Chilean salmon farmers are poised to tap into India, the world’s most populous nation, following a recent agreement between the two countries. Chile’s state aquaculture agency, Sernapesca, and India’s Food Safety and Standards Authority (FSSAI) have finalized conditions for the official certification of frozen and refrigerated salmonid products and crustaceans sent to India. These products will be processed in establishments already registered for the Indian market.
Loreto Seguel, executive director of the Salmon Council, representing key Chilean salmon producers like AquaChile, Cermaq, Australis, Mowi, and Salmones Aysén, emphasized the collaborative efforts of various government and commercial entities in achieving this certification. Seguel noted that this milestone opens up exciting prospects for the Chilean salmon industry by expanding its reach to a market with substantial growth potential.
India, with a population of 1.49 billion and a rapidly growing middle class of around 264 million, offers a promising market for Chilean salmon exports. Trade between Chile and India in 2022 amounted to $2.77 billion. Advances in the Chile-India trade agreement have resulted in significant tariff benefits for Chilean salmon, including an effective 15% reduction in import duties.
The opening of the Indian market and the reduction in import taxes will make Chilean salmon more competitive compared to salmon from other countries facing higher tariffs. Chile, the world’s second-largest producer of Atlantic salmon after Norway, is set to leverage this opportunity in a country that remains neutral in the ongoing Russia-Ukraine conflict.