Fish reared in farms rose by 49.1 per cent in 2007 when compared to the previous year, according to latest figures by the National Statistics Office.

The value of aquaculture produce in 2007 amounted to €128.8 million while that of 2006 totalled €86.4 million. The NSO said this was mainly due to an increase in the value of fish sold, which rose by 41.2 per cent to €103.2 million in 2007.

It said the increase in the value of fresh fish purchased resulted from an increase in the volume of fresh fish purchased, complemented by a rise in the price per kilogram of 45.5 per cent over 2006.

There were significant increases in costs in 2007, mainly fuel costs, which rose by 114.3 per cent over 2006, and variable production costs, which rose by 45.5 per cent, mainly due to an increase in the purchase of fish feed.

The factor income of the aquaculture industry, which takes into account the difference between the gross output and intermediate consumption, declined slightly by 0.5 per cent to €27.1 million in 2007.

The compensation of employees in 2007, which made up 15.3 per cent of the industry's factor income, increased by 22.7 per cent compared to 2006. On the other hand, entrepreneurial income, which was up 8.1 per cent in 2006, declined by 5.3 per cent to €22.5 million in 2007.

The NSO plans to release the latest figures for 2008 in November, saying it is still awaiting data from one fish farm. The statistics for 2007 are the most updated in hand.