February 14, 2022

Government report highlights potential of expanding Australia's aquaculture sector

Australia has huge potential to grow its aquaculture sector – in particular through investment in offshore production, the development of recirculation systems, increasing production in the Northern Territory and developing the fledgling seaweed industry – according to a new report from the Australian Parliament's Agriculture and Water Resources Committee.

Called "Supporting a strong future for Australian aquaculture", the report found that Australian aquaculture is a growing industry with a strong positive outlook, but that unlocking its full potential will require the removal of a number of barriers to growth.

The report notes: "Australia's aquaculture industry is small by global standards, accounting for less than 1% of world production. But Australia has a reputation for producing safe, sustainable, high-quality and high-value aquaculture products. The Australian aquaculture industry has many advantages over its competitors: the ability to culture a large number of species over a range of climatic zones; access to relatively inexpensive land and water; and freedom from many of the diseases that affect aquaculture in other countries."

It reveals that Australian aquaculture production in 2019-20 was valued at $1.6 billion, an increase from $1.5 billion from the previous year. In volume terms, production reached 106,139 tonnes. By comparison, wild-catch production was valued at $1.58 billion, a decrease of 12% from the previous year.

"The higher dollar value of aquacultural output was reflected in the fact that it represented 38% of the total volume of production of fish but 51% of total value, compared to 62% and 49% respectively for wild-catch production," the report states.

The report notes that most of the value of Australian aquaculture production comes from high value species such as pearls, salmonids, tuna and oysters, but over 40 species are commercially produced. The top five aquaculture species groups, in order of production value, are salmonids, tuna, edible oysters, pearl oysters and prawns. Other species groups include abalone, freshwater finfish (such as barramundi, Murray cod and silver perch), brackish water or marine finfish (such as barramundi, snapper, yellowtail kingfish, mulloway and groupers), mussels, ornamental fish, marine sponges, mud crab and sea cucumber.

Committee chair Rick Wilson said: "There are many exciting opportunities for the growth of Australian aquaculture. The growth of the industry will help meet domestic demand for seafood, boost exports and provide thousands of additional jobs, especially in regional areas.

"Innovation is a key to the expansion of output and increased domestic and global market share. The committee noted the example of offshore aquaculture. With investment in research and the development of new technology, together with appropriate regulatory changes that encourage investment, offshore aquaculture can contribute to a significant increase in total production."

Wilson also noted the hurdles that the industry needs to overcome. These hurdles include biosecurity measures, a shortage of skilled workers in the sector, the need for a better labeling regulation and the confusion caused by current rules around the country of origin labeling of seafood.

- The Fish Site