The Chilean Salmon Council has reported a 2% average annual growth rate in salmon exports over the past five years, with coho salmon showing a significant 5.6% growth rate. Despite this, the total value of Chilean salmon and trout exports fell by 2.1% to $6.462 billion in 2023 due to lower prices. The US was the main market for these exports, accounting for 32.7% of the total, followed by Japan, Brazil, Russia, and China. There was an 8.6% increase in fresh salmon exports compared to 2022, indicating a change in market dynamics.
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Over the past five years, the average annual growth rate for exports of these products has been a modest 2%, indicating “stagnation in industry expansion,” said the council formed by Empresas AquaChile, Cermaq, Mowi and Salmones Aysen. Highlights for 2023 include growth in exports of Atlantic salmon and coho salmon, with both species increasing by 3.7% and 2.5%, respectively, compared to 2022. “Notably, Atlantic salmon and coho salmon have shown distinct growth patterns over the past five years, with Atlantic salmon showing an average annual growth rate of 1.8%, while coho salmon have shown a more significant growth rate of 5.6%,” the report states. . “This discrepancy highlights the recent momentum in the coho salmon industry,” it added. The council's report also noted that 184,442 tons of coho salmon were exported in 2023—77% whole and 20% fillets. Notably, the share of coho salmon fillets has increased significantly from 10.7% in 2020. In addition, almost all coho salmon ...
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