Irish farmed fish and shellfish rose in value by 13 per cent last year to €124.6 million despite an 8 per cent dip in production.

A 29 per cent increase in the price of farmed shellfish was identified as one of the main reasons for this trend in a report presented to Minister of State for Fisheries and Food John Browne yesterday.

The Status of Aquaculture Report 2006 by Merc Consultants says a strong demand for farmed fish is due to grow because of two factors - the relatively "static" output from commercial or "capture" fishing and increased appreciation of the health benefits of fish-mega 3 fatty acid.

The total value of aquaculture production in Irish waters last year is just short of an "all-time peak" of €125 million reached in 2002.

Total production of 57,422 tonnes, 8 per cent lower than 2005, was achieved at a time of "stable prices" for farmed finfish, such as salmon and trout, and development into farming cod, perch, sea urchins, abalone and "even seahorses", the report to the Minister says.