The Argentine fishing industry is implementing strategies to reconcile sustainable exploitation with greater foreign exchange.
Funding Line Amount
Fishing and seafood production
This Argentine fishing company is a member of one of the leading organizations specializing in capturing, producing, and commercializing seafood products. Since 1988, the company has optimized processes, promoted responsible fishing, and cared for natural resources in this South American country.
Thanks to its geographical location, it specializes in the fishing and marketing of top-quality products such as shrimp, squid, Patagonian toothfish, and hubbsi hake. With a presence in more than 80 countries, it has commercialized more than 20,000 tons and sold more than $125 million.
The company’s cash flow was considerably affected by the COVID-19 pandemic and the shutdown of most industries in 2020. However, in 2021, they increased sales by more than 25% compared with 2020, driven by the rise in consumption and the reactivation of nearby industries.
Despite this economic recovery, the company’s capital cycle is still not satisfactory, as its accounts receivable invoices exceed 60 days. In addition, the fishing industry requires working capital for production in the coming seasons and the maximum fishing capacity of the southern country. Finally, the outlook is further complicated by market fluctuations and uncertainty in the Argentine market.
The objective for 2022 is market expansion and to become more financially independent from its organization. To meet this goal, they must have liquidity, which is why ExpoCredit approved a line of $750,000.
The Argentine fishing industry is implementing strategies to reconcile sustainable exploitation with greater foreign exchange. Although the implementation of these alternatives is complex, these types of companies are innovative and generate connections with other productive sectors, ultimately boosting the country’s economy.
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