Wal-Mart Stores in talks with Chilean salmon producer Multiexport Foods two years after curtailing purchases following outbreak of ISA virus
October 3, 2011
– Two years after curtailing purchases of Chilean salmon following an outbreak of the ISA virus, Wal-Mart is in talks with the lone salmon farmer in Chile’s benchmark stock index to re-establish sales to its main grocery stores, Bloomberg reported Sept. 30.
Andres Lyon, the CEO of Chilean salmon farmer Multiexport Foods SA, said the company is supplying salmon to Costco Wholesale Corp. and Wal-Mart’s Sam Club chain in the U.S. Lyons said the company expects 2011 sales to hit a record US$260 million as Chile’s salmon industry recovers from a 2007 outbreak of the ISA virus.
After Wal-Mart curtailed its purchases of Chilean salmon, Norway – which is the world’s top salmon producer -- boosted exports to the U.S. However, Norway is producing at close to its maximum capacity of about 1 million metric tons a year and can’t raise output like Chile, said Ricardo Garcia, CEO of rival Chilean producer Cia Pesquera Camanchaca SA.
The primary source of this article is Bloomberg, New York New York, on Sept. 30, 2011.