AquaChile Surges After Norway Salmon Prices Jump: Santiago Mover
Stock Chart for Empresas AquaChile SA (AQUACHIL)
AquaChile SA (AQUACHIL), Chile’s largest listed salmon farmer, rose the most in almost four months after the price of the fish in Norway jumped.
AquaChile advanced 6 percent to 365 pesos at the close in Santiago, the biggest gain since Sept. 12 and its highest price since July 3.
The price of Norwegian fresh salmon, a benchmark for the industry, jumped 12 percent to 33.11 kroner per kilogram ($2.69 per pound) in the week to Dec. 30, according to data from Statistics Norway published today. It was the biggest increase since December 2010.
“Probably the rise is due to the price increase,” Ignacio Spencer, an analyst at Santiago-based brokerage IM Trust SA, said in an interview.
Other salmon farmers in Chile also rallied. Multiexport Foods SA (MULTIFOO), the country’s third-largest exporter, advanced 5.1 percent, Invermar SA jumped 10 percent and Australis Seafoods SA (AUSTRALI) surged 11 percent.
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