Tuna ranching lobby group raises concerns over decline in Malta’s aquaculture industry

The tuna ranching lobby has raised alarm over the significant decline in the export value of Malta’s aquaculture industry as reported by the National Statistics Office.

“These numbers reflect not only local challenges but also international market dynamics that are impacting our exports significantly,” Charlon Gouder, the spokesperson for the Federation of Maltese Aquaculture Producers, said on Saturday.

The NSO reported that in 2023, even though production increased, the industry saw nearly a 40% drop in export value – from €320.4 million in 2022 to just €199.1 million in 2023.

“This decline is linked to several factors, including changes in exchange rates and geopolitical issues affecting Malta’s main markets in Japan and China,” Gouder said.

He explained that the price per kilo of tuna exported from Malta has halved, dropping from €17.75 per kilo in 2022 to €9.55 per kilo in 2023.

At the same time, production costs have risen by over 12%.

To tackle these issues, FMAP has started talks with the government to create a diversification plan aimed at reducing reliance on a single market. The association said a recent agreement brokered between the Maltese government and China has opened up a new export market.

“If we are serious about sustainability in this industry, we must address these environmental challenges with urgency,” Gouder stressed, pointing out that climate change and poor sea conditions are also hurting fish populations and competitiveness.

FMAP said that it is dedicated to strengthening the aquaculture sector through strategic partnerships and new ideas for expanding markets.