Source: www.salmonexpert.cl

Chile: These are the companies Blumar and Camanchaca, which have increased the value of their shares, as the price of Chilean salmon is recovering strongly.

By Jonathan Garcés

Month after month, the Santiago Stock Exchange publishes its ranking of the most profitable open companies. In the January 2021 report, positive news was known again for the industry: for the second consecutive month, two salmon farming companies ranked in this relevant stock measurement.

Thus, in the ranking of the 20 companies with the best profitability, Blumar was ranked 12th, with an index of 17.27%, surpassing important firms such as Inversiones La Construcción (13), Oxiquim (14) and Besalco (15), according to the Santiago Stock Exchange report.

Then, Salmones Camanchaca also stands out among the most profitable companies in January 2021, in position 16 and with an index of 15.18%, surpassing companies such as Oro Blanco (17), CCU (18) and Pucobre (19).

The shares of Salmones Camanchaca, in parallel, are quoted on the Oslo Stock Exchange, where in recent weeks they have remained at stable levels: based on what was reported yesterday by the Norwegian capital market, they are located at NOK 57.2.

 In this regard, Blumar’s general manager, Gerardo Balbontín, states to Salmonexpert that “the increase in stock prices is mainly due to the better expectations that exist in the salmon farming sector, given the good price prospects for Chilean salmon”.

“In this positive scenario, Blumar should be able to benefit, that after consolidating its production in the Magallanes region, which allowed it an important increase in its annual activity”, Balbontín points out.

 In fact, after being at historically low levels, close to US$3.5 per pound during November 2020 due to the coronavirus crisis, the price of Chilean salmon began to recover strongly and in January 2021, it even moved towards US$6 per pound, but due to bad weather in the United States, it is falling to just under US$5 per pound, says Salmones Camanchaca’s general manager, Manuel Arriagada. That said, the prospects are bullish for the national product.

It should be noted that the three most profitable firms during the last month of last year, according to the Santiago Stock Exchange, were Grupo Iansa with an index of 60.57%, then comes SQM-A, with 38.52%, and Masisa, with 32.45%.