Be the first to comment!Gross output of aquaculture industry down 22.4% in 2011
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According to figures released by the National Statistics Office, the gross output of the aquaculture industry, which is comprised of fish farming and other output, amounted to €44.3 million, down by 22.4 per cent from €57.1 million in 2010. This decline was mainly due to a 47.6 per cent drop in the value of farmed tuna, and in part due to a negative change in stocks of fish.
The gross value added of the aquaculture industry in 2011 amounted to €4.6 million, down by 62.4 per cent from €12.2 million in the preceding year. Taking fixed capital consumption and exchange rate differences into consideration, the factor income amounted to €2.8 million, from €13.2 million in 2010. While the compensation of employees amounted to €2.9 million, entrepreneurial income amounted to -€1.2 million against €8.6 million in 2010.
During the year under review, the volume of fresh fish sold amounted to 2,954 tonnes, a drop of 57.1 per cent over the preceding year. In contrast, the average price of fresh fish sold registered a rise of 27.8 per cent.
However, this increase was not enough to compensate for the drop in the volume of fresh fish sold as the total value of sales fell by 45.1 per cent, from €82.2 million in 2010 to €45.1 million in 2011.
When compared to 2010, intermediate consumption which takes into account the costs incurred in the production of farmed fish, fell by 11.6 per cent. This was due to declines of 39.9, 15.7 and 6.9 per cent in the value of selling costs, purchases of live fish and fingerlings and variable production costs.
The drop in the value of live fish and fingerlings purchased, that represented 27.8 per cent of the total intermediate consumption, was mainly due to a decrease in the volume of tuna purchased (-39.1 per cent).
This decline was in part mitigated by an increase of 33.3 per cent in the average price per kilogram of tuna purchased. The year under review also revealed that purchases of fish feed went down by 5.0 per cent to €16.0 million.
