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Deadly Algae Bloom Sends Chilean Salmon Farmer Stocks Tumbling

  • AquaChile SA leads losses among local salmon farmers
  • Producers had led gains this year amid price recovery

Chilean salmon-farmer shares plummeted Tuesday in Santiago trading after a deadly algae bloom killed some of their fish.

A recent bloom of a variety of red tide algae known as chattonella killed 2.3 million Atlantic salmon worth about $15 million at four of AquaChile’s 30 production centers, the company said Monday in a filing to Chile’s regulator. That represents about 9 percent of AquaChile’s salmon in its fisheries.