Value of output, consumption of aquaculture industry almost at par in 2017

Alex Whitebrook/ November 20, 2018/ News, Press release/ 0 comments

In 2017, the value of output and intermediate consumption of the aquaculture industry were almost at par.

The latest annual census conducted amongst enterprises operating in the local aquaculture industry showed that during 2017 the total output amounted to €203.9 million, up by 14.8 per cent over 2016. Simultaneously, however, the reported intermediate consumption, which takes into account most of the industry’s expenses, rose by €60.9 million or 42.6 per cent over last year’s total.

As a consequence, the industry’s value added stood at €0.1 million. In the same table, consumption of fixed capital or depreciation of assets held by the aquaculture industry increased by €0.7 million or 52.0 per cent to a total of €2.0 million, while compensation of employees went up by €1.1 million or 28.8 per cent reaching €4.9 million. Overall, the industry registered a net operating loss of €6.8 million.

During the period under review, the total sales of fish amounted to 15,721 tonnes, an increase of 15.1 per cent over the preceding year. The marketed tonnage of Tuna farming accounted for 83.5 per cent of the total sales; an increase of 16.2 per cent when compared to the corresponding volume in 2016. In aggregate, the total marketed value of farmed fish rose by €16.4 million or 10.0 per cent to €180.4 million in 2017.

On the expenditure side, purchases of live Tuna and other fish amounted to €101.1 million, claiming 49.6 per cent of the total intermediate consumption. These purchases were in effect higher by €34.0 million or 50.7 per cent when compared to the situation in 2016. Correspondingly, variable production costs, which were mainly influenced by fish feeding supplies, increased by 38.1 per cent over the preceding year. Other significant increases in overheads were attributable to higher expenses related to contractual work engaged by the industry.

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