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Chilean salmon producers hit seven-year high value on stock market

Apr 13, 2017 | Uncategorized

While Australis is the only Chilean listed firm whose value grew more than 100% in a single year, Camanchaca is one step closer to doubling its market capitalization.

The stock market value of the company, which is linked to entrepreneurs Jorge Fernandez and Francisco Cifuentes, has grown 99.23%, its shares rising in value from CLP 23.3 to CLP 46.6.

The general manager of Camanchaca, Ricardo García, said the increase was due to four factors: the recovery of prices thanks to limited supply growth and greater demand; the implementation of cost reductions for health and environmental improvements; regulatory changes that seek to limit production growth in favor of a sanitary improvement of the biomass; and a stronger than expected El Nino phenomenon that affected the anchovy fishery, which Camanchaca also works in.

Source: https://www.undercurrentnews.com/