Industry Overview
Aquaculture is the fastest growing primary industry in Australia, in fact it is the fastest growing food production sector in the world. The stagnant or diminishing of the world wild caught fisheries together with growing world population have led to the reliance on aquaculture as the mean for fish production to meet the world demand for fish protein.
Australian aquaculture industry in 2003/04 was valued at $732 million, accounted for almost one third of the total gross value production of the seafood industry. Most of the aquaculture species in Australia are high value species aiming for export markets. Australian aquaculture producers comply with a range of Federal, State and Local government environmental laws and codes of practice that ensure the long-term sustainability of the industry and environment.
Aquaculture is established throughout Australia, and species groups farmed included finfish, crustaceans and molluscs from tropical north to the temperate south. The aquaculture industry is largely based in regional Australia and makes a significant and positive contribution to regional development. A report published by Cooperative Research Centre in 1999 asserted that more than 7,000 direct and 20,000 indirect jobs were created in aquaculture industry. The projection by the industry indicated that if the aquaculture production reaches $2.5 billion in 2010, 36,000 employments are expected to be created.
In 1999, the seafood industry together with the Australian Government set a ‘Vision’ and ‘Mission’ for aquaculture industry in Australia.
Vision
"By 2010 a sustainable, vibrant and rapidly growing Australian aquaculture industry will achieve at least $2.5 billion in annual sales by being the world's most globally competitive aquaculture producer".
Markets and Future Direction
Australia has established a reputation in the world as a supplier of high quality and safe seafood which is produced in environmental sustainable practices. Australian aquaculture producers target niche high value domestic and overseas markets.
The FAO predicts that from 2001 any further increases in global consumption of seafood is expected to be met by aquaculture. The FAO has also predicted that this trend will continue to the point that by 2030, aquaculture will dominate fish supplies and less than half of the fish consumed will come from capture fisheries. Australian aquaculture producers are well placed to capitalise on future world demand for high quality seafood.
The increasing demands for Australian native species and the proximity to Asia and Pacific markets, together with world recognised excel seafood quality and standards, Australia aquaculture is competitively positioned to take on high value aquaculture products.
Source: http://www.daffa.gov.au/fisheries/aquaculture/overview
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