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Fisheries and aquaculture production grows

by December 20, 2016 General

Australian vessel catching tuna. (Photo: AFE)

Fisheries and aquaculture production grows

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Wednesday, December 21, 2016, 02:10 (GMT + 9)

The gross value of Australian fisheries and aquaculture production increased by 12 per cent to AUD 2.8 billion (USD 2,038 million) in 2014-15, according to a 2015 report issued by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).

ABARES acting Executive Director, Peter Gooday, attributed the increases to a rise in the volume and prices of wild-caught rock lobster which was caused by strong export demand and a lower value of the Australian dollar.

“Wild-caught products accounted for 58 per cent, or AUD 1.6 billion of the total AUD 2.8 billion (USD 1,164.5 million) fisheries and aquaculture gross value production,” Gooday said.

The director also explained that it accounted for 64 per cent of the total 235,710 tonnes produced.

Rock lobster was the most valuable species group produced, with a value of AUD 668 million (USD 486 million), a rise of 14 per cent in the year, and made up 42 per cent of the gross value of wild-caught fisheries production.

Abares report also revealed that the aquaculture sector is becoming increasingly important, largely as a result of increased Tasmanian salmonid production and that farmed salmonids continue to be the most valuable aquaculture species group, accounting for 53 per cent of the total value of Australian aquaculture production.

Tasmania accounted for the largest share of gross value of production (30 per cent), followed by Western Australia (21 per cent), South Australia (17 per cent) and Queensland (11 per cent).

Further statistics showed that the total export value of fisheries and aquaculture products increased by 10 per cent in 2014–15 to AUD 1.4 billion (USD 1,019 million).

Australia’s major seafood export destinations were Vietnam, Hong Kong, Japan, China and Singapore, together accounting for 92 per cent of the total value of Australian seafood exports in the analysed period.

The total import value of fisheries and aquaculture products remained stable and the major sources for Australian edible imports (not including live products) were Thailand, China, Vietnam and New Zealand.  

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