Chile could produce significantly less salmon this year than previously forecast, according to analysts at Rabobank.

The analysts now expect Chile to produce 732,000 metric tons (whole fish equivalent) in 2024, an 8.5 percent reduction from the bank's original forecast just months ago.

Rabobank adjusted its forecast downward following the publication of its annual global protein outlook in November, which originally projected that Chile's salmon production could reach 800,000 metric tons.

Chile harvested around 765,000 metric tons in 2022 and 720,000 in 2021, according to Rabobank numbers.