July 22, 2013

According to figures from the Food and Agriculture Organization (FAO), and the USDA, world farmed fish production has overtaken beef production in the last two years with an output of 60 million tonnes in aquaculture compared to 57 million tonnes of beef in 2011.

Global beef consumption now averages less than 9kg per head per year, down from 11 kg in the 1970s. Fish though is up, at 19 kg/head/year from 11 kg in the 1970s.

David Leyonhjelm, an agribusiness consultant for 25 years, thinks farmers need to be aware that the market place is always changing.

"Long term, I think beef will become more of a niche product than a main stream product. It won't disappear there will always be a beef industry but it won't be as big or robust as it is today."

Don Mackay from the Feed Lot Association says he's not scared of foreign fish farmers' low production costs. "There are places in the world where fish farming is best suited and there are places where the production of beef is best suited and particularly throughout northern Australia, not only northern Australia but throughout the country, where beef production can be an efficient way of utilising that product that's produced naturally in the grass lands, so beef production will remain in those areas.