South Africa’s marine fisheries and related service industries have struggled to retain gains achieved before the COVID-19 pandemic, with production volumes, earnings, and profit margins eroding in 2020, according to findings published by Stats South Africa.
The survey, released 29 March, 2022, by Stats South Africa Statistician-General Risenga Maluleke, summarizes the performance of the South Africa marine fisheries. The survey also gives details on earnings from services related to marine fisheries – such as fees from fishing quotas, marine catches, processing, cold storage, grading, and sorting of fish.
In 2020, South Africa's total income from the marine fisheries and related services industry declined by 9.1 percent to ZAR 16 billion (USD 1 billion, EUR 988 million), from the ZAR 17.5 billion (USD 1.2 billion, EUR 1 billion) achieved in 2019.
Net profit before tax also shrunk 34.3 percent to ZAR 1.7 billion (USD 116 million, EUR 104 million), down from ZAR 2.5 billion (USD 176 million, EUR 154 million) reported in 2019.
A further decrease was reported in the industry’s capital expenditures, which decreased by 29.9 percent to ZAR 600 million (USD 41 million, EUR 37 million) compared to ZAR 900 million (USD 61 million, EUR 56 million) in 2019.
The survey also indicates a drop in total sales in the marine fisheries and related services industry. Sales dropped by 11.6 percent from the ZAR 6.5 billion (USD 441 million, EUR 401 million) sold in 2019 to ZAR 5.8 billion (USD 396 million, EUR 358 million) realized in 2020.
The largest decrease in sales was reported in the squid and anchovy segments, which dropped by ZAR 358 million (USD 24 million, EUR 22 million) and ZAR 189 million (USD 13 million, EUR 12 million), respectively.
“In 2020, the profit margin for the marine fisheries and related services industry was 8.2 percent, which was the lowest margin recorded in the three surveys,” the report said. In 2017 and 2019, for example, the margin was 11.3 percent and 12 percent, respectively.
Sales from hake fisheries remained the largest contributor to total sales for 2020. Hake represented 31.5 percent of sales, an increase over the 28.8 percent share of sales for 2019.
Total sales in 2020 declined to ZAR 8.5 billion (USD 581 million, EUR 527 million), a decrease of 5.5 percent from the ZAR 9 billion (USD 615 million, EUR 558 million) from 2019.
Canned fish was the largest contributor to the total sales of processed fish in 2020, at 47.7 percent of the total, compared to 43.2 percent in 2019.
Photo courtesy of Stats South Africa
