Tuna farming doubles, generates €58 million growth in 2012

The gross output of the aquaculture industry, which primarily comprises fish farming, amounted to €108.4 million, up by 116.0 per cent from €50.2 million in 2011. This change was mainly due to an increase of 104.5 per cent in the output of tuna farming.

The gross value added of the aquaculture industry in 2012 amounted to €25.8 million, up by 147.0 per cent from €10.4 million in the preceding year. Taking fixed capital consumption and exchange rate differences into consideration, the factor income increased from €8.7 million in 2011 to €20.8 million in 2012. Compensation of employees amounted to €3.4 million, while entrepreneurial income stood at €16.2 million, against €4.7 million in 2011.

During the year under review, the volume of fresh fish sold advanced by 82.7 per cent to 7,440 tonnes. In contrast, the average price per kilo of fresh fish sold went down slightly by 0.1 per cent.

When compared to 2011, intermediate consumption (which takes into account the costs incurred in the production of farmed fish) went up by 107.8 per cent. Accounting for this were increases in the value of purchases of live fish and fingerlings, and higher variable production costs of 268.1 and 62.9 per cent respectively. The increase in the variable production costs, accounting for 45.9 per cent of the total intermediate consumption, was mainly due to a rise of 63.6 per cent in the purchase of fish feed.