Fish is a key element of the Mediterranean diet, considered perhaps the leading nutritional model worldwide.
However, as the years go by, the consumption of fish is decreasing. The main reason for this development is the fact that fish is an expensive product, which in recent years is close to becoming a luxury item. This explains why in the inflationary environment of 2024 the fish would not be able to remain unscathed from the constant appreciations.
Compared to last summer they are observed increases which even exceed 30% in some species, while almost all fish have seen increases. According to ELSTAT’s July inflation data, fresh fish prices have increased by 8.4% on an annual basis, i.e. compared to July 2023, a rate already multiple times the increase in the Consumer Price Index for the same period . In fact, increases of 3.6% on average were observed even compared to June this year due to increased demand.
According to the Consumer Goods Retail Research Institute (IELKA), the prices of fish and seafood in supermarkets increased by 5.9% on average between July 2023 and July 2024. Indeed, according to data obtained by “To Vima” from a supermarket website, prices of fresh fish and seafood have increased by 5%-10% compared to last summer.
Specifically, the cleaned one sea bream last year it was sold at 10.50 euros per kilo, while today’s price is 1 euro higher, at 11.50 euros (a 9.5% increase). OR trout rose to 7.90 euros from 7.50 euros last year (+5%), while a similar percentage increase has sea breamwhich reached 15.60 euros/kg from 14.80 euros in the summer of 2023.
A corresponding increase (+4.5%) is observed in the defrosted octopuswhich reached 16.50 euros/kg. However, the wave of accuracy seems to have left sea bass unscathed – at least in the supermarket in question – with the price remaining stable at 11.60 euros/kg.
To understand increases in fish prices, we need to look at how they are formed. The consumer finds fresh fish in supermarkets and fish markets (fish shops, street markets). Retailers in turn source fish from two sources: fishermen and fish farms.
Fishermen supply the market with open sea fish such as anchovy, sardine, pollock, mackerel and others. Fish farms (fish farms) are almost entirely responsible for bream and sea bass, and to a lesser extent produce flounder and flounder (cousins to the flounder).
Small fish and less fishing gear
“Unfortunately, pelagic fish have dwindled, in recent years there are fewer and fewer” says the president of the Attica Fishmongers’ Association to “Vima”. Thodoris Kakouris. As he explains, in recent years the annual fish has been at much lower levels than in the past due to the burden on the marine environment from pollutants, climate change and overfishingbut also because of the reduced number of boats fishing in the Greek seas.
“Overfishing has certainly played a large role in reducing pelagic fish production. Overfishing by amateurs who go down to the seabed with bottles and spearguns also causes great damage. he says himself and cites examples of unwitting hobbyists who sometimes interrupt fish reproduction. “They had come to sell me a lobster with millions of eggs on the bottom of its body” he says, explaining that he then stopped working with that particular fisherman.
“At the same time, there are fewer boats fishing, as many captains retire and their children do not continue, since most people have turned to other sectors, mainly tourism” adds Mr. Kakouris.
According to the official data of ELSTAT, since 2016 it has been observed reduction in the number of fishing vessels coastal fisheries, which also constitute the vast majority of the Greek fishing fleet. In more detail, in 2016 there were 14,975 fishing vessels, while in 2022 they had decreased to 12,101, with the percentage decrease estimated at 19% over the 7-year period. However, it is noted that the active fishing vessels were much less by 2015 and amounted to 6,000-7,000.
Regarding the numbers of fish, ELSTAT’s data on sea fishing verifies the fishmonger. In the four-year period 2016-2019, the annual catches ranged between 74,000 and 83,000 tons of fish, cephalopods (squid, octopus, etc.), molluscs (lobster, shrimp, etc.) and shellfish (shine, quince, etc.). However, in the three-year period 2020-2022 (2022 is the last year for which data is available) the annual catch is significantly less. Specifically, in 2020 the “counter” stopped at 70,182 tons, in 2021 it fell to 58,365 tons and in 2022 it reached 65,071 tons.
Of course, it is noted that this is not the first time that small numbers of catches have been observed. For example, in the five-year period 2011-2015 the annual catch ranged between 60,000 and 65,000 tons. On the contrary, in the five years 2005-2009 the annual fish did not fall below 81,000 tons, while in 2006 it approached 100,000 tons (96,694).
The mackerel, the anchovy and the pollock
Regarding the species of fish that have been affected by the reduced production of the seas, Thodoris Kakouris identifies major shortages in fish such as mackerel; “In the past, about 150 crates of mackerel were produced, now barely one is produced” he says characteristically. In 2017 the total production of fish from fisheries amounted to 62,347 tons, while in 2022 it had fallen to 53,050 tons.
On the other hand, there are also fish whose production is at high levels, such as anchovies. The pike fish is also good, but, as the fishmonger says in “Vima”, people do not prefer it – “the pike in August”, as the saying goes, seems to no longer move the consumer public.
However, the overall picture is disappointing. “Without fish farms we would have a big problem, we wouldn’t even be able to meet the domestic demand” he says himself. Moreover, sales are not at the same levels as before, to a certain extent due to the increased prices. “We sell smaller quantities, but at higher prices. We sell the fish cleaned, but few cook fish at home these days. More and more we are selling fish that we have already grilled in the shop” points out Thodoris Kakouris about market trends.
Inflationary pressures have also affected production costs in fish farms, which supply the market with 20,000-24,000 tons of fish per year, a quantity corresponding to approximately 20% of production. The remaining 80% (about 100,000 tons) is sold abroad, in 37 countries, contributing to Greek exports by about 300 million euros per year, according to the Hellenic Aquaculture Producers Organization (HELOPY).
“Despite all the challenges faced by Greek fish farming during the economic crisis, the pandemic, the energy crisis and the war in Ukraine, it has highlighted the resilience and solid infrastructure of the sector, which manages to cope with unprecedented difficulties thanks to his experience, know-how and business depth” says the chairman of the ELOPY board of directors to “Vima”. Apostolos Turalias.
“However, a “silent” wave of secondary consequences has affected the operating and production costs of fish farming businesses, which has become a reality as early as mid-2021. It is typical that the increase in energy costs for the operation of the sector’s units is estimated to reach 87%, while the burden in the critical sector of fish feed and veterinary products is also significant, with increases in the prices of the relevant raw materials exceeding 10%. Proportionately important are also the revaluations in the cost of packaging (60%) and, of course, transport” he explains himself, emphasizing that the total increase in production costs is estimated at 20%.
“The increase in production costs has not been fully passed on to the consumer, as fish farmers have significantly reduced our profit in recent years” adds the general secretary of ELOPY Yannis Hekimoglouwho maintains fish farming in Thesprotia.
“Besides, as the cost of living rises overall, there is a risk that we will lose some of the demand. The fish is a living organism, it cannot go into a warehouse, like a piece of furniture e.g. It has to go at a certain time, when it’s the size you want, etc., because if you freeze it, the price plummets.” explains.
“Today we sell sea bream for around 6 euros per kilo and sea bass for around 5 to 5.50 euros per kilo” says Yiannis Hekimoglou. It is noted that the retail price is approximately twice the wholesale price.
“Last year prices were around 40 euro cents lower, meaning the annual increase is between 5% and 10%. From 2022, the change is estimated at around 15% to 20%”. As the general secretary of ELOPY emphasizes, fish is like a kind of stock market, its price changes quite easily and quickly, depending on supply and demand. Changes in prices are more intense in small fish, while in larger fish they show greater stability.
In order to further develop fish farming, which, among other things, would contribute to the de-escalation of prices, it is necessary to provide solutions to three “pathogens” that are constantly maintained, according to ELOPY.
First, a modern and competitive institutional framework should be created that will strengthen the operation of the sector’s businesses and attract new investments.
Secondly, it is necessary to draw up a spatial plan that will help the development strategy of the sector in the areas of organized aquaculture development (POAA). Finally, ELOPY considers it necessary to address, at the European level, the increased competition from imports from third countries (outside the EU), which reduce the share of Greek fish in the market.
Coordination: Angelos Skordas
Written by: Petros Konstantinidis
Editor: Panagiotis Sotiris
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