Australian Aquaculture sector goes from strength to strength

Australia is on the cusp of an aquaculture boom, with our reputation as a producer of sustainable, reliable and delicious seafood becoming well-known around the globe.

The nation’s Fisheries Ministers met virtually on Friday to discuss the opportunities for the sector over the next decade.

Following the meeting the Albanese Government has released a new Australian Government Aquaculture Statement outlining support and initiatives for a sustainable aquaculture industry.

Minister for Agriculture, Fisheries and Forestry Murray Watt said the statement provided direction for the aquaculture sector, as it sees continued year on year growth.

“We are seeing aquaculture grow in volume and value, making it an increasingly important contributor to economic and food security,” Minister Watt said.

“Across the aquaculture industry we are seeing projected increases of up to 5%, with the total value expected to be $2.21 billion by 2028–29.

“This potential growth could see aquaculture represent 64% of total seafood sector production value.

“Importantly, that means more jobs will be created in this important industry right across the country.

“The aquaculture statement outlines our commitment to the sector while providing a platform for ongoing discussion on how to support a sustainable aquaculture industry.

“A key part of this commitment is the Albanese Government’s $8 million investment to accelerate the development of a sustainable seaweed aquaculture industry in Australia.”

Minister Watt said he was working closely with state and territory governments, peak bodies and the industry to support future growth and sustainable development.

“Currently, the Australian and Tasmanian Governments are working to support a research trial of aquaculture in offshore waters in the Bass Strait and we all look forward to hearing the results.

“Our seafood industry is one we should all be very proud of.

“The projected growth of aquaculture demonstrates the value it has in helping us achieve our broader goal of a $100 billion agriculture sector by 2030.”

The Australian Government, in conjunction with state and territory governments, will also commence a review of the National Aquaculture Strategy 2017 that will include future opportunities First Nations peoples and their communities, climate change mitigation and adaptation, and identifying new risks and opportunities.

To view the statement please head to Fisheries - DAFF (agriculture.gov.au)