November 20, 2019

Malta's aquaculture industry grew 18.9%

Total combined output of tuna and closed cycle species last year was €239.2 million (~US$264,8 million; €1 = US$1.11), €38 million (~US$42 million) more compared to 2017 amid industry challenges, reported Times of Malta.

The reported growth, provided by a National Statistics Office census among aquaculture operators, comes as Malta's aquaculture industry faced a beach slime problem and calls for tuna pens to be shifted deeper offshore.

In terms of volume, the aquaculture industry reported 19.3 million tonnes of total fish sales, a 227% increase over 2017. From this, 89.8% was tuna, compared to 83.5% in 2017. Tonnage of sold tuna also went up 32.1% over the relative quantity sold a year before.

Industry expenses went up 13.4% or €27.3 million (~US$30.2 million) over 2017, resulting in €7.6 million (~US$8.4 million) gross value for the industry. Overall, Malta's aquaculture industry reported a €5.2 million (~US$5.7 million) net operating loss.

Total marketed farmed fish in terms of value went up €62.3 million (~US$68.9 million) to €242.7 million (~US$268.7 million), a 34.5% increase. Expenditure of live tuna and fingerlings cost the industry €109.9 million (~US$121.6 million), this was an 8.7% increase from 2017.

Malta's aquaculture industry also reported higher variable production costs from fish feed supplies, insurance, license fees and more, amounting to a 16.6% increase over 2017. Selling costs went up 39.1% and overheads increased 17.2%.

-  Times of Malta