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Exalmar fishmeal production up, but sales plummet

Pesquera Exalmar reported a loss of USD 9.7 million in the first half of this year, and its operating profit was down by 82 per cent year on year, reaching USD 4.5 million, due to the suspension of the 2014 second fishing season, which resulted in a decrease in sales of 45 per cent and higher ban expenses.

August 6, 2015

Pesquera Exalmar reported a loss of USD 9.7 million in the first half of this year, and its operating profit was down by 82 per cent year on year, reaching USD 4.5 million, due to the suspension of the 2014 second fishing season, which resulted in a decrease in sales of 45 per cent and higher ban expenses.

The company reported that as of 30 June this year, it produced 65,839 tonnes of SD (steam dried) fishmeal, representing a volume increase production by about 37 per cent year on year.

In contrast, production of fish oil fell by 30 per cent, amounting to 9,009 tonnes.

In a report sent to the Superintendency of Securities Market, Exalmar explained that in the first half of 2015 it processed 292,542 tonnes of raw materials (compared with 211,807 tonnes in the same period of 2014). Out of this total, 165,068 tonnes came from its fishing fleet (125,482 tonnes up to 30 June, 2014) and 127,474 tonnes were purchased from third parties (86,325 tonnes in the first half of last year).

The firm also reported that total sales were down by 45 per cent compared with the first half of last year, to USD 67.8 million.

Average selling prices of fishmeal and fish oil recorded a significant increase in the last quarter of 2014 and first quarter of 2015, following the suspension of the second anchovy capture season. But the company stressed that following the allocation of a quota amounting to 2.58 million tonnes for the first season, in the second quarter of 2015 prices fell in line with expectations.

The company has six fishmeal and fish oil production plants, and two frozen goods plants processing aquatic products for direct human consumption.

Source: FIS.com. Read the full story here.

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