The inflation wave hits the Greek fish farming

Published Jan 9, 2022

Tridge summary

The Greek fish farming sector, which saw a 5% increase in exports in 2020 and is projected to return to pre-pandemic levels in 2021, is facing challenges due to inflationary pressures on raw material prices, packaging, and energy costs, leading to an estimated increase in production costs of at least 20%. Factors contributing to these increased costs include a 97% rise in energy costs, a 15% increase in the price of raw materials for fish feed, a 17% increase in packaging costs, and over 8% increase in transport costs. These challenges are compounded by global food price increases and low producer prices for the two main species, sea bream and sea bass. The industry is now faced with the need to adapt to ensure the financial viability of companies and maintain innovation and competitiveness.

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

Original content

After the Covid 19 crisis, new "storms" are caused by inflationary pressures on raw material prices, packaging and the skyrocketing energy costs in the domestic fish farming sector, with companies estimating the burden on total production costs at at least 20%. Despite the difficulties and challenges posed by the pandemic and the closure of markets, the Greek fish farming sector managed to effectively manage the production and smooth operation of the supply chain, achieving in 2020 a 5% increase in exports. The indications for 2021 are just as encouraging, as it seems that the industry will return to pre-pandemic levels and close with an increase in production of about 3%. However, while the pandemic continues to shape the social and economic reality, the industry is called to face another new challenge. The disruption of supply chains due to the pandemic, the high demand for food especially from China as many countries have made storage, the drought from La Niña (2020-2021), the ...

Source: Cna