Australian fisheries and aquaculture production has risen four per cent to $2.5 billion in the past year—riding on the back of a boom in rock lobster production value and price, according to the latest Australian Bureau of Agricultural Resource Economics and Sciences (ABARES) report.
Assistant Minister for Agriculture and Water Resources, Senator Anne Ruston, welcomed the latest figures—Australian fisheries and aquaculture statistics 2014—as evidence of a robust industry with an international reputation as an exporter of premium product.
“The rock lobster production value has risen 33 per cent to $586 million and has recorded a huge 32 per cent increase in the average price,” Minister Ruston said.
“The ABARES report indicates that the production of salmonids continues to be the largest contributor to Australian aquaculture production, making up 56 per cent of total aquaculture production volume.
“Our exports—mainly of high value premium product such as rock lobster, abalone, whole tuna and prawns—increased to $1.3 billion, which is a great result for the market.
“After increasing by 10 per cent in 2014–15, export earnings of fisheries and aquaculture products are forecast to continue their rise, buoyed by strong demand from Asia.
“This ABARES fisheries report provides us with economically measured results that underpin our well managed fisheries—for the past two years, no solely Commonwealth managed fisheries have been classed as subject to overfishing.
“It is in our best interests that we ensure that our fisheries remain profitable and productive—and that these vital resources remain sustainable for future generations to come.”