July 20, 2006

Australian production rises in 2004-05

Australian fisheries production rose by 5 percent in 2004-05 to around 287,000 tonnes, according to the latest publication of Australian Fisheries Statistics 2005 released Jul 19 (Wednesday).

Despite increased production, the overall gross value of production fell by 6 percent to US$2.0 billion, thanks to a stronger Australian dollar, Dr Brian Fisher, Executive Director of Australian Bureau of Agricultural Resource and Economics (ABARE) said.

While the gross value of wild caught production remained constant at US$1.5 billion in 2004-05, that for aquaculture production fell by 14 per cent (US$102 million) to US$611 million, driven mainly by a fall in the production volume and average price of southern bluefin tuna.

While the gross value of production fell, abalone, scallops and a number of finfish have maintained or increased their value, Dr Fisher stated.

The value of Australian seafood exports declined from US$1.3 billion in 2003-04 to US$1.2 billion in 2004-05, due largely to falling production and lower exports of southern bluefin tuna to Japan.

The value of Australian seafood imports continued to grow in 2004-05, increasing by 6 percent to US$960 million. However, the volume of seafood imports fell by 1 per cent to 186,000 tonnes.

Thailand and New Zealand are the main the major source of imported seafood but imports from Vietnam and China are catching up.