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Thriving Times for Australian Aquaculture Industry

Exciting news from the latest release of ABARES Australian Fisheries and Aquaculture Statistics, celebrating remarkable achievements within the Australian aquaculture sector.

The heartbeat of our aquatic endeavours, the Gross Value of fishery and aquaculture production (GVP), has surged by an impressive 8%, soaring to $3.42 billion in the 2021-22 fiscal year. Notably, the value of aquaculture has surpassed that of the wild-catch sector within this period.

David Galeano, Acting ABARES Executive Director, remarked, ​“Over the last two decades we’ve seen aquaculture continue to grow, helping to boost overall fisheries production”.

In a noteworthy turn of events, aquaculture constituted a whopping 56% of the total Australian fisheries and aquaculture GVP in the 2021-22 financial year, propelled by the escalating value of salmonids. This surge in value addition from salmonids and abalone has translated into a 2% uptick in the total value of fishery and aquaculture product exports, reaching $1.28 billion.

​“Australians love their seafood,” remarked Galeano, highlighting a consumption of approximately 350,000 tonnes – an impressive 13.8 kilograms per person – during 2021-22.

While seafood consumption still trailed behind chicken, pork, and beef, it surpassed lamb and sheep meat consumption throughout the year. The import of fishery and aquaculture products also experienced a 2% rise, totalling $2.19 billion, primarily attributed to an upswing in prawn value.

The recent triumph of the Australian aquaculture sector underscores its pivotal role in nourishing the nation and fortifying the economy. The industry’s performance in 2021-22 underscores the sector’s resilience and capacity for growth amidst global challenges.

As the value of aquaculture surges, it serves as a signal of the innovation and transformation driving the industry forward.

We at The Lucas Group take great pride in working alongside this burgeoning sector, committed to pairing outstanding talent with opportunities within this thriving industry. From salmonids to prawns, every tide brings fresh promise to Australian aquaculture – a testament to the strength of our partnership, the innovation of our industries, and the undying Australian love for seafood. Together, we anticipate another year of robust growth and mutual prosperity, ensuring that the Australian aquaculture industry remains a beacon of success.

The Australian Fisheries and Aquaculture Statistics 2022, supported by the Fisheries Research and Development Corporation on behalf of the Australian Government, is available online on the ABARES website, inviting all to explore the rich tapestry of achievements in our thriving aquatic domain.

Sources: ABARES
Image: Al Mabin – Agrishots

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