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Southern bluefin tuna in a marine farm. (Photo: Adam Watkins/The University of Adelaide)

Australian aquaculture could double in value in 10 years

Click on the flag for more information about Australia AUSTRALIA
Tuesday, October 03, 2017, 01:50 (GMT + 9)

Australia's federal Government forecats that aquaculture industries in the country are expected to double their value to AUD 2 billion (USD 1.5 billion) in ten years after launching the National Aquaculture Strategy.

This strategy, introduced at Seafood Directions Conference 2017 held in Sydney, is expected to create more jobs and more high quality seafood for export and home consumption apart from including a sustainable pathway to industry growth amid the rising demand for safe, clean and green Australian seafood.

Assistant Minister for Agriculture and Water Resources Anne Ruston said the National Aquaculture Strategy acknowledged that global seafood demand continues to grow and wild-catch fishery production is plateauing, and the aquaculture industry must fill the gap.

Ruston noted that the country’s aquaculture industry has an “enviable reputation” for producing sustainably sourced and high quality seafood.

The minister explained that the new strategy has determined priority areas for the Australian, state and territory governments and industry to parlay the aquaculture's reputation into future growth. The goal is to double the value of the industry by 2027.

Ruston believed that the Australian aquaculture can take advantage of the rising world demand with an abundance of clean water, space, high quality education and training and a steady investment environment.

"We want to empower industry to harness the opportunities of increasing world seafood demand, and to support our commitment to develop a more competitive and sustainable aquaculture sector,” she said.

She also said the strategy was developed in consultation with key aquaculture industry representatives and members of state and the Northern Territory governments.


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