TASA is looking into penetrating the Chilean salmon fishing industry. (Photo: Stock File)
Fishing giant mulls Chilean acquisition
Thursday, May 06, 2010, 21:40 (GMT + 9)
Prominent Peruvian fishing firm Tecnologica de Alimentos (TASA) is considering embarking on its first international expansion with possible acquisition of a salmon plant in Chile, the world's No. 2 salmon producer after Norway.
Humberto Speziani, part of TASA's management group, also said the company expects steady sales this year of USD 400 million from Peru, the world's top producer of fishmeal.
TASA has 86 boats and 16 processing plants but is using only 60 boats now because of quotas on anchovy fishing in Peru's rich Pacific Ocean.
"We are doing an evaluation of the salmon business (in Chile). ... We still haven't had contact with any salmon company in particular," he said, Reuters reports.
Speziani said any move to go abroad would be made via "the acquisition of a specialized company" in southern Chile, which recently revised its aquaculture laws.
"We hope to be able to sit down and talk with some companies in the coming months," he said.
Speziani said TASA expects lower volumes this year because of tighter quotas, but revenues similar to 2009 thanks to higher prices.
"The fishing quota for the first half of 2009 was 3.5 million (tonnes) and this year it's 2.5 million. What's likely is that production will decline but in dollar terms sales will be higher because prices have risen.
He said that while China is the top importer of Peruvian fish products, buying 60 per cent of the total, the next potential market is India.
"Peru's free-trade pact with China will help, because it reduces tariffs and allows us to compete on equal footing with Chile there," Speziani said.
Chile had a free-trade pact with China before Peru did.
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By Denise Recalde