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Australian aquaculture set to double in value

Australian aquaculture set to double in value article image

Australia’s aquaculture industries are predicted to double their value to $2 billion in the next 10 years.

This the aim of the Federal Government’s National Aquaculture Strategy unveiled at the Seafood Directions 2017 conference in Sydney earlier this week.

Assistant Minister for Agriculture and Water Resources Anne Ruston said the strategy outlined a sustainable pathway to industry growth in response to increasing demand for safe, clean and green Australian seafood.

Ms Ruston said Australian aquaculture is well placed to take advantage of growing world demand with an abundance of space, clean water, a stable investment environment and high quality education and training.

World fisheries production is projected to rise by 1.7 per cent p.a. from 2017 to reach 188 million tonnes in 2022, with aquaculture production making up this increase.

“World seafood demand is continuing to grow and with wild-catch fishery production plateauing, we need the aquaculture industry to fill the gap,” Ms Ruston said.

Priority areas

“Australia’s aquaculture industry has an enviable reputation for producing high quality and sustainably sourced seafood.

“This strategy has identified priority areas for the Australian, state and territory governments and industry to parlay the aquaculture’s reputation for quality into future growth with the aim of doubling the value of the industry by 2027.”

Ms Ruston said the government’s aim is to empower industry to harness the opportunities of increasing world seafood demand, while developing a more competitive and sustainable aquaculture sector.

Key National Aquaculture Strategy priorities include:

  • Reducing regulatory burden
  • Investing in research
  • Development and extension
  • Improving market access
  • High biosecurity standards
  • Improving public perception
  • Environmental performance
  • Increased investment
  • Supporting education and training

“Through this strategy we will create more jobs and more high quality seafood for home consumption and for export to help feed a growing global population,” Ms Ruston said. 

The strategy was developed in consultation with key aquaculture industry representatives and members of state and the Northern Territory governments.

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