Aquaculture industry total output amounted to €203.9 million in 2017

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Aquaculture industry total output amounted to €203.9 million in 2017The National Statistics Office has said that the value of output and intermediate consumption of the aquaculture industry were almost at par.

Conducted among enterprises operating in the local aquaculture industry, the latest annual census showed that last year, the total output amounted to €203.9 million, up by 14.8% over 2016.

The NSO noted that simultaneously however, the reported intermediate consumption, which takes into account most of the industry’s expenses, rose by €60.9 million or 42.6% over last year’s total. It said that as a consequence, the industry’s value added stood at €0.1 million.

Consumption of fixed capital or depreciation of assets held by the aquaculture industry increased by €0.7 million or 52.0% to a total of €2.0 million.

The NSO added that compensation of employees went up by €1.1 million or 28.8% reaching €4.9 million. Overall, the industry registered a net operating loss of €6.8 million.

The total sales of fish amounted to 15,721 tonnes, this was an increase of 15.1% over the preceding year.

The marketed tonnage of Tuna farming accounted for 83.5% 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% to €180.4 million in 2017.

The NSO said that on the expenditure side, purchases of live Tuna and other fish amounted to €101.1 million, claiming 49.6% of the total intermediate consumption. These purchases were in effect higher by €34.0 million or 50.7% when compared to the situation in 2016.

It added that correspondingly, variable production costs, which were mainly influenced by fish feeding supplies, increased by 38.1% over the preceding year.

Other significant increases in overheads were attributable to higher expenses related to contractual work engaged by the industry, the NSO said.

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