EU - Seafood Industry Report Says Fish Farming Has Bright Future

A new Glitnir Seafood Industry Report shows that the European Union, when regarded as one country, to be the world largest seafood markets and has an annual average per capita consumption of approximately 26,5 kg.

The report also explains the EU fishery polices witch the union use's to manage its fish stocks. In the report you will find detailed information on seafood consumption in Europe's main markets.

Glitnir, the globally leading supplier of financial services to the seafood industry, releases its new country report on the EU. The report provides an analytical overview of the seafood industry in EU through the use of seafood value chain.

Excerpts from the report

* The EU is the largest seafood market and if EU-intra trade is included it represented 45% of the world's total seafood imports in 2006. Even though the EU-intra trade is excluded the EU is still the largest seafood market with 27% of the world's total seafood imports in 2006.

* EU catches have dropped in recent years and aquaculture production has remained stable resulting in increased dependence on seafood imports.

* Denmark and Spain are the leading fishing nations. The combined catches of Denmark and Spain account for about one third of total EU catches.

* The poor state of a number of commercially important fish stocks has led to a declining trend in catches in the EU as it has in the rest of the world.

* Aquaculture plays an important socio-economic role in several European regions and the industry continues to have a bright future.

* Aquaculture will continue to play an important role in alleviating the pressure on fishery resources.

* EU-27 countries import approximately four times more seafood products than they export.

* Germany, France, the UK, Italy and Spain with a population of together around 300 million are by far the largest markets for seafood in the EU.

* The per capita consumption in the EU-25 was 23 kg/year in 2005 and has increased to 26.5 kg in 2007. The outlook is promising thanks to the booming aquaculture industry and awareness for healthy food among European consumers.