Jose Ramon Gutierrez, CEO of the Chilean aquaculture company Multiexport Foods, said the Chilean aquaculture industry is now in a crisis that differs immensely from the previous one.

“At the end of the '90s, Chile’s salmon farming industry was one of the most competitive in the world," he said, speaking to investors and analysts in Chile at the Cermaq Capital Markets day at the end of November.

"Biology was not a challenge. But then something went wrong, and in the space of a few months from mid-2006 things deteriorated rapidly.