Munich-based conglomerate Schorghuber Group, the owner of Chilean salmon farmer Ventisqueros, has called off its plan to sell the salmon producer, citing tough global economic conditions.

Schorghuber, which has owned the Chilean company since 2010, engaged Dutch lender Rabobank to advise on the sale, sources familiar with the deal told IntraFish.

In a statement Schorghuber Group said it tested the waters to determine whether the sale would meet senior executives' valuation of Ventisqueros but this was dampened by economic conditions battering the global economy.