December 18, 2023

Aquaculture leads growth in Australian seafood industry

According to the latest edition of ABARES Australian Fisheries and Aquaculture Statistics, aquaculture continues to thrive in Australia, marking another successful year in the country's seafood industry, Ausmarine reported.

David Galeano, acting executive director of the Australian Bureau of Agricultural and Resource Economics (ABARES), revealed that the gross value of fishery and aquaculture production (GVP) witnessed an impressive eight percent increase to AUD 3.42 billion (US$2.2 billion) in the fiscal year 2021-22. Notably, the value of aquaculture surpassed that of wild catch.

Galeano said the aquaculture industry in Australia has grown over the last two decades, playing a pivotal role in elevating overall fisheries production. In the reported year, aquaculture accounted for 56% of the total Australian fisheries and aquaculture GVP, with the increased value of salmonids being a significant contributing factor.

The total value of fishery and aquaculture product exports experienced a 2% rise to AUD 1.28 billion (US$860 million) in 2021-22. This growth was primarily attributed to the increased export values of salmonids and abalone.

In terms of consumption, Australians enjoyed approximately 350,000 tonnes of seafood, equivalent to 13.8 kg per person in the same fiscal year. Although seafood consumption was less than chicken, pork, and beef, it surpassed lamb and sheep meat consumption.

Galeano noted that the value of fishery and aquaculture product imports also increased by 2% to AUD 2.19 billion (US$1.4 billion) in 2021-22, primarily driven by the heightened value of prawns.

The Australian Fisheries and Aquaculture Statistics 2022 report is supported by funding from the Fisheries Research and Development Corporation on behalf of the Australian government.

-      Ausmarine