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Salmon farming cages. (Photo: AquaChile)
Salmon industry paid over USD 11 million in patents in 2016
CHILE
Thursday, September 21, 2017, 21:10 (GMT + 9)
The salmon industry is going through one of its best years thanks to its sanitary recovery after the algae bloom, and the good international prices that are obtaining in its main markets.
In the first half of the year, aquaculture firms listed on the stock exchange like AquaChile, Australis, Blumar, Camanchaca, Invermar and Multiexport generated total profits of about USD 175 million. The situation of the last half of the year was diametrically opposed to the one that they had to face in the first months of 2016.
In that period, the industry experienced the consequences of "harmful algae bloom" (HAB), which caused losses of more than USD 100 million to the sector due to the strong increase of fish mortalities in the farming centres.
Patents on the rise
However, just as entrepreneurs in the industry have made good profits in recent times, their patent payments have also risen. This is the annual disbursement of the so-called single aquaculture patent in the General Treasury of the Republic. If a company does not pay this legal requirement, the concession could run the expiration risk.
The salmon industry as a whole spent USD 11,660,099,108 only for the payment of the unique patent for aquaculture in 2016. SalmonChile's president, Felipe Sandoval, expects that this year, as an industry, about USD 13 billion will be earmarked to these expenses.
Meanwhile, according to data from that trade, the amount paid by its associated companies was USD 7,767,705,655; that is, 23.6 per cent higher compared to the USD 6,281,186,602 that was earmarked for this purpose in 2015.
Thus, between 2013 and 2016 the members of the salmon trade spent more than USD 20 billion in patents.
When disaggregating the data per firm, the members of the association that paid the most in 2016 were Cermaq, with USD 1,774,332,230; AquaChile, with USD 1,254,080,600, and Multiexport, with USD 747,613,693.
The patent is a specific annual tax that the salmon companies pay for each hectare they use. Although there is an increase in the amount paid, this does not mean that the companies have more hectares under concession. What happens is that the tax amount in 2015 was 14 UTM per hectare, while in 2016 it was 17 UTM. This year, meanwhile, the amount rose to 20 UTM.
SalmonChile President Felipe Sandoval forecasts that the aquaculture industry will allocate USD 13 billion in patent payments to this period.
The trade union leader hopes that "the money paid will hopefully reach the towns and the regional government. Today it is the Treasury the one that distributes it, and when that happens, it is not known if there are discounts of some kind."
Source: Luis Musquiz, of Economy and Business / El Mercurio
editorial@seafood.media
www.seafood.media
Photo Courtesy of FIS Member  AquaChile S.A. - Group Headquarters
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