Aquaculture is one of the fastest growing primary industries in Australia. Between 1996-97 and 2005-06, aquaculture’s share of the total value of Australian fisheries production grew from 25 per cent to 35 per cent.

Australia has an established reputation as a supplier of clean and safe, premium quality aquaculture products, produced in environmentally sustainable practices. With world wide natural fish stocks declining, the Australian aquaculture industry has the potential to make up shortfalls in many wild species. In 2005-06, aquaculture production rose by 16 per cent (7500 tonnes), while the gross value of production increased by 18 per cent to $748 million. Over the same period, production of Commonwealth and State wild catch fisheries fell by 13 per cent (9500 tonnes) and 21 per cent (35 200 tonnes) respectively.

Growth in this sector has been driven by Australia's ability to establish niche markets in a range of high value species that cater for lucrative Asian markets.

(Source: ABARE, Australian Fisheries Statistics, 2006)

Products

The industry produces premium quality, high value species. Over forty species are being produced commercially. In terms of value of production, the most important species are salmonoids (salmon and trout - A$232m), tuna (A$156) and pearl oysters (A$122). In 2005-06 they accounted for 67 per cent of the gross value of aquaculture production. Other important species include edible oysters and prawns, however, barramundi and abalone are also becoming increasingly valuable aquaculture industries with barramundi production more than doubling between 2000-01 and 2005-06 from 898 tonnes to 2075 tonnes.

(Source: ABARE, Australian Fisheries Statistics, 2006) 

Government

Aquaculture is seen as an important industry at all levels of Government, particularly in providing employment to regional communities. In past years, industry and Governments have been working together to develop an Aquaculture Industry Action Agenda (AIAA). The AIAA is a national initiative to help the aquaculture industry successfully capitalise on its competitive advantages and growth opportunities. As a result of the AIAA, the National Aquaculture Council developed an Industry Action Plan to progress the key issues identified in report.  

Technology

Australia's competitive advantages in aquaculture production are enhanced by an industry wide R&D focus, led by premier organisations such as the Commonwealth Scientific and Industrial Organisation, the Fisheries Research and Development Corporation, and Cooperative Research Centres, Leading technology in this sector include advanced water recirculating systems, improvements in hatchery and cultivation techniques and research into using inland saline waterways to farm marine species in water resource currently not used.

Cooperative Research Centres

The Australian Government has funded a number of Cooperative Research Centres (CRC's) that focus on research and development that benefit the Australian seafood and fisheries sector. The CRC's are based on collaborative ventures between industry, Government and a range of research providers. The Grain Foods CRC is undertaking research into using specific characteristics of Australian grown wheat for use in fish feed; the Aquafin CRC's research is based on sustainable aquaculture of finfish (Atlantic salmon and southern bluefin tuna); and the Seafood CRC's research program cover the entire value chain from production to the end consumer of wild-harvest fish and aquaculture.