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Bluefin Tuna Ranching Lobby Group Voices Concerns Over Decline in Malta’s Aquaculture Industry

MALTA
Monday, December 02, 2024, 03:40 (GMT + 9)

The Federation for Aquaculture Producers has expressed deep concern over a sharp decline in the economic performance of Malta's aquaculture sector, as highlighted by recent data from the National Statistics Office (NSO), reports Juliana Zammit from MaltaToday.

Charlon Gouder, spokesperson for the Federation of Maltese Aquaculture Producers (FMAP), described the situation as alarming, citing both domestic and international factors as contributors to the industry's challenges.

“These figures reflect not only local difficulties but also the influence of international market dynamics, which have had a significant impact on our exports,” Gouder said.

The NSO revealed that despite an increase in production, the industry experienced a substantial 40% drop in export value, falling from €320.4 million in 2022 to €199.1 million in 2023.

Key factors behind this decline include fluctuations in exchange rates and geopolitical tensions in Malta's primary export markets, Japan and China. Gouder noted that the price per kilo of tuna exported from Malta has plummeted, halving from €17.75 in 2022 to just €9.55 in 2023, while production costs have risen by over 12%.

Diversification as a Solution

In response, FMAP has initiated discussions with the government to develop a diversification strategy to reduce dependence on a single market. A promising step in this direction is a recent export agreement forged between Malta and China, opening new opportunities for the industry.

Gouder emphasized the urgency of sustainability in tackling these issues, highlighting the role of climate change and deteriorating sea conditions in affecting fish populations and the industry's overall competitiveness.

“If we are serious about sustainability, we must address these environmental challenges with urgency,” he said.

Commitment to Revitalizing the Sector

FMAP reiterated its commitment to revitalizing Malta's aquaculture sector through innovative strategies, enhanced environmental stewardship, and forging strategic partnerships to expand market reach.

The Federation is optimistic that, with proactive measures and government support, the sector can overcome these challenges and restore its crucial role in Malta's economy.

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