EU fishing fleet sees improved profitability but structural challenges remain
Last November 18th, the Commission released the 2024 Annual Economic Report on the European Union fishing fleet, showing a substantial improvement in the fleet's economic performance, with gross profits increasing from both 2022 and 2023 to a projected €1,673 million in 2024.
The improvement is attributed to several factors, including: progress in achieving sustainable stocks; higher average first-sale prices for several key species; a reduction in fishing capacity; a decrease in fuel prices a decrease in fuel consumption.