July 4, 2007

New Zealand aquaculture firm says country's aquaculture industry ''gridlocked''

Wakatu Incorporation, a New Zealand aquaculture company, is mulling the possibility of shifting its operations to Australia, citing the gridlock in New Zealand's industry as a reason.

The company's chief executive, Keith Palmer, said he is going to Australia next week to explore finfish aquaculture.

One of the things he will be looking at is government policy especially the differences between the two countries.

Wakatu Incorporation, a privately owned company, owns Aotearoa Seafoods, which processes about 10,000 tonnes of mussels a year.

While the Australian aquaculture industry was booming, New Zealand's sector was "gridlocked" by a "bureaucratic system", said Palmer.

The company's application for a mussel farm was turned down by local authorities last month.