December 22, 2004

Australian Seafood Sales Hampered By Low Retail Prices

Australia¡¯s Northern Territory Seafood Industry Council says low retail prices are causing local companies to wait till after the Christmas season before selling the bulk of their produce.

The industry has reported a good season for production but says competition from cheaper imports and the higher Australian dollar are keeping prices down.

The council's Ziko Illic says producers could be holding onto stock until prices rise again in the New Year.

"Our stock is sitting in cold stores and is moving very slowly, it doesn't mean it's going to be any cheaper," he said.