A native of San Francisco, Christian Molinari has lived and worked in Chile for over 20 years, after having arrived in Santiago as a volunteer and falling in love with the culture and its people. He covered business news in Latin America for over a decade, worked in communications at IBM Chile, and currently freelances in strategic communications and reporting.
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Punta Arenas, Chile-based salmon farmer Nova Austral fell deeper into the red during the first quarter of 2023, and the company is struggling to find a path out of its difficult financial position.
Nova Austral has been under intense public scrutiny since 2019 after revelations that it allegedly engaged in false reporting of its mortality figures – an infraction for which it has faced criminal charges, followed by fines for reported
… Read MoreA joint committee in Chile’s congress has rejected a proposed modification to the country’s general fisheries law that would have prohibited new or renewed aquaculture concessions in protected areas.
The congressional committee rejected the article for the proposed creation of the Biodiversity and Protected Areas Service (SBAP), which would bar the introduction of exotic hydrobiological species – such as salmon – from
… Read MoreThe Peruvian Production Ministry’s (PRODUCE) cancelation of the main anchovy fishing season in the country’s north-central zone will negatively affect the production of fishmeal, but its stated justification is guaranteed sustainability of the biomass.
In May, PRODUCE delayed launching the season due to a high presence of juveniles, resulting from the effects of El Niño. That delay had already caused consternation among
… Read MorePeru’s Production Ministry (PRODUCE) has delayed the launch of the main anchovy fishing season in the country’s north-central zone due to the effects of El Niño.
The situation is causing consternation among industrial fishing fleets that are responsible for the world’s largest anchovy fishery.
“The situation is really complicated. El Niño is already hitting the [northern] Peruvian coast with a 2.5 degrees
… Read MoreSalmones Camanchaca closed the first quarter of 2023 with solid profits, driven by increased sales volumes at higher prices.
The vertically integrated salmon-farming firm, based in Santiago, Chile, enjoyed a lack of extraordinary mortalities, due in large part to benign oceanographic conditions. The company also benefitted from a risk-diversification strategy enacted after algae blooms dealt a big blow the company in 2021. Algae mitigation
… Read MoreEcuador President Guillermo Lasso has announced a world-record debt-for-nature swap that will benefit the marine area surrounding the Galapagos Islands.
With international technical support, Ecuador converted USD 1.6 billion (EUR 1.5 billion) in commercial debt into a USD 656 million (EUR 603 million) loan financed through a new bond issued by Credit Suisse.
“Today we made history: Ecuador reduced USD 1.1 billion [EUR 1 billion] of debt,
… Read MoreChile’s Environment Superintendency, SMA, has initiated the process of charging Puerto Varas, Chile-based Australis Seafoods with overproduction at several of its salmon farms.
The environmental authority accused Australis of 85,000 metric tons (MT) of overproduction between 2014 and 2022, and the company now faces a total fine equivalent of up to CLP 178 billion (USD 225 million, EUR 205 million), Diario Financiero (DF)
… Read MoreEcuador’s annual seafood exports to the United States are now under threat due to the South American country’s failure to meet U.S. standards for limiting whale and dolphin bycatch.
Ecuador’s seafood exports to the U.S. total about USD 1.6 billion (EUR 1.46 billion) annually. The U.S. imported 226,480 metric tons (MT) of fisheries products from Ecuador in 2021, including tuna, shrimp, mahi, and swordfish.
Eco-labels and effective messaging on recyclable packaging are big drivers of seafood at retail in the United States, according to
Giant Eagle, which operates nearly 500 stores in the U.S. Mid-Atlantic and Midwest regions, surveys its customers every year to analyze their preferences and identify consumer trends. In its latest survey, more than 50 percent of
… Read MoreCoho salmon is becoming a more popular option for Chile’s salmon-farming industry.
Because of a mucus coho naturally has on its skin, as well as stronger, tighter scales, it is typically immune to sea lice and the infectious salmon anemia (ISA) virus. Coho can also be harvested before Chile's summer, when the risk of algae blooms increases due to higher water temperatures. Chile’s salmon-farming industry has also pledged to
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