June 8, 2007

New Zealand government grants US$2 million to promote aquaculture
 

New Zealand's government is granting US$2 million to regional councils for aquaculture planning.

Fisheries Minister Jim Anderton said the government would also work with the industry to develop national standards for sustainable aquaculture.

Other parts of the plan include promotion of Maori involvement in aquaculture and helping the industry develop markets and products.

The industry aims to triple current aquaculture revenues from US$350 million to US$1 billion by 2025.