New report suggests that aquaculture sales in the EU fell 17% due to pandemic

Published May 10, 2021

Tridge summary

A recent report by the European Union's JRC reveals that the EU aquaculture sector, which accounted for about 25% of the EU's seafood consumption, had produced 1.2 million tonnes and generated €4.1 billion in turnover in 2018. The sector was comprised of approximately 15,000 businesses, leading to the employment of 69,000 people across four primary countries: Spain, France, Italy, and Greece. However, the sector has been negatively impacted by the coronavirus pandemic, with a decrease in income sources and an increase in costs, resulting in a 17% drop in sales volume and an 8% decrease in prices. The report also highlighted social demographic trends within the sector, indicating a male-dominated workforce that tends to be older and more locally employed.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The EU aquaculture sector reached 1.2 million tonnes of produce and €4.1 billion in turnover in 2018, according to a new JRC report. However, the report estimates that the coronavirus pandemic hit the sector by decreasing income sources and increasing costs. In the EU, aquaculture accounts for approximately 25 percent of the consumption of seafood. The EU Aquaculture Sector – Economic report 2020 shows that there were about 15,000 companies in the sector in the EU in 2018, employing 69,000 people. The sector’s sales volume increased by 2 percent and turnover increased by 11 percent, compared to 2016. The report’s main sources of data come from national reporting up to 2018. The data shows that EU aquaculture production is concentrated in four countries: Spain (27 percent), France (18 percent), Italy (12 percent), and Greece (11 percent) - together accounting for 69 percent of sales and 62 percent of turnover. Looking beyond 2018, the scientists developed and applied a "nowcast" ...

Source: Thefishsite