Business

Trout farms see demand, prices increase

LA PRENSA

hooked:U.S. consumers are eating up Panama’s freshwater fish.1022962

The export of freshwater fish is going through a boom in Panama, driven by demand for the product in the United States. Not only is there a greater demand, but the price for the fresh fish has risen considerably. In one year the price for a pound of trout exported to the United States has risen from $3.75 to $4.75.

This contrasts with a decline in shrimp and tuna exports that have been hurt by rising fuel prices, poor weather and decreasing stocks.

Shrimp exports have decreased 13.2 percent so far this year, while tuna exports are down by 4.6 percent, according to figures from the Contraloría General de la República. Lamasur Aquaculture, the country's largest exporter of trout, said that 2007 was a record year for the company, as it produced 350,000 pounds with a value of $1.3 million.

The represented an increase of 50,000 pounds from 2006.

Luís Lamastus, president of the Boquete-based company, noted that technology improvements have allowed it to sharply increase production. He noted that forecasts for this year are encouraging. Lamastus noted that the local market has started to develop for trout, enabling some of his product to end up in Panama's restaurants and grocery stores.