This is because the blue chip recipe is not inside the biochamber, and is using assembly machines or EMP. Once you have legendary eggs cloning, you can begin to produce blue chips from legendary eggs/red chips.
The green chips can be produced from the fruit, as well as the copper cable, but the electronic components will require you to import legendary stone to make the quartz and glass. The plastic is easy to make on planet though, so you would have most of what you need done.
Considering the 300% productivity you can get with research though, you can regain a significant portion of the red chips. Since it requires 4 red chips, and recycling gives 0-1 chip. So it seems that at maxed productivity you should be able to maintain the loop once you get it started for infinite legendary rare metals.
I set up a test world to simulate the idea and it ended up making infinite blue, red and rare metals. :D