April 24, 2006

Australian government to devote US$30 to seafood industry

The Australian Government has earmarked US$30 million for new fisheries and related research and development projects to maintain the country's leading position as a seafood producing country, Australian Minister for Fisheries Senator Eric Abetz announced Sunday (Apr 23).

The seafood industry is Australia¡¯s fourth most valuable food-based primary industry with a value of more than US$2 billion a year, according to Eric Abetz. This investment would help secure its future, he said, adding that the projects funded cover the spectrum of Australian fisheries.

Among the various projects was a US$1 million study to assess the viability of year-round supplies of farmed Australian southern bluefin tuna.

Another US$110,000 was also slated for the Northern Territory Extension of the Genetag project to conduct additional research and sampling of northern Spanish mackerel stocks.

The key to the investment is research that aims to make a difference, said Abetz.

A majority of the projects are partnerships between industry and researchers, with the Government helping to deliver real results, Abetz said.

The Minister said that the funding provides for new projects to ensure fisheries are developed in an ecologically sustainable manner, and that the fishing industry remains profitable and internationally competitive.