Chile truck strike disruption could start Salmon price recovery

Chilean salmon prices could start to recover from rock-bottom values as a truckers’ strike lasted for several days and disrupted shipments. The strike has already curbed a free-fall in salmon prices, which reached the five-year low of $3.50/lb for delivery in Miami. The strike lasted for several days and severed Chilean salmon farmers from their main markets in Brazil and the US. Rabobank and Multiexport Foods chairman, Jose Ramon Gutierrez, says that salmon prices could snap back. Smolt stocking figures indicate that Chilean supply will plunge between 8-10% in 2021, causing prices to spike in the US as demand is expected to recover.

Source: Undercurrentnews