Joyvio Foods unit gains approval on Chilean compliance plan

Joyvio Agriculture Development (SZSE:300268) announced that its Chilean subsidiary, Australis Seafood S.A., received approval from Chilean environmental authorities for its compliance plan covering the Humos 2 aquaculture center. This approval addresses prior instances of overproduction. As of February 25, 2025, Australis has secured approvals for 23 out of 35 submitted compliance plans, with 12 plans rejected. Appeals have been filed for 11 of the rejected plans. The approved plan for Humos 2 includes measures such as enhanced production controls, staff training, and environmental monitoring. Australis will also implement a production reduction of 2,449 tons between 2023 and 2028 to offset prior violations from 2018 to 2022. The approval suspends penalties, but failure to comply could result in fines. Joyvio Foods emphasized that it will continue to execute the compliance plan diligently.