40% increase in fish exports, but 'fresh challenges ahead'

Despite the challenges that the bluefin tuna industry in Malta is facing in the year 2023, as a result of the current situation in the Asian market, most notably Japan, the year 2022 saw a remarkable 40.7% surge in the production of farmed Atlantic bluefin tuna, the latest NSO figures show.

In 2022, the industry generated a total revenue of €319.4 million, a significant increase of €92.4 million compared to the previous year.

However, expenses also increased, resulting in a marginal increase in the industry's gross value added when compared to the previous year.

These statistics come hot on the heels of a major breakthrough in the Chinese market, as Malta's bluefin tuna has now been approved for import into China.

This development has further increased the industry's gross value, which now stands at €81 million, up from €79.7 million in 2021.

Throughout 2022, Malta successfully produced 15,816 tonnes of fish, a 2,267 tonne increase in Atlantic bluefin tuna from the previous year. Notably, over 95% of this prized fish is exported to Japan.

In contrast, Malta imported 10,618 tonnes of fish last year, a slight increase from the 10,000 tonnes of bluefin tuna purchased in 2021.

The process of catching bluefin tuna involves using purse seiners during the fishing season, followed by towing the fish back to Malta for farming.

The bluefin tuna are then fed with high-quality fish feed to enhance their biomass and fat content, ultimately leading to their harvest towards the end of the year.

The National Statistics Office recently released these figures, which were met with caution by Dr. Charlon Gouder, the Chief Executive of Aquaculture Resources Ltd.

This organisation serves as the operational arm of the Federation of Maltese Aquaculture Producers, representing 75% of tuna farming operations in Malta.

Gouder said the industry continues to thrive and grow despite the international challenges.

"Malta's tuna, as the number one tuna in Japan, has now been introduced to China. However, the success behind this major breakthrough is yet to be realized, as the industry believes that entering a new market requires massive investment and hard work," he said.

"Despite tuna already being highly regarded in Japan, and now having a vast market in China to cater to, the next couple of months will be crucial for us to consolidate our presence. The industry is advocating for a national effort to increase Malta's exports and diversify from its dependence on a single, albeit reliable, market."