News

Aquaculture provides $220 million boost for SA regions

Friday 21 October 2016

New figures released today show South Australia’s aquaculture industry contributed $227.8 million to the State’s economy in 2014/15 – with 96% of this value of production centred on the Eyre Peninsula and West Coast.


The annual Economic Impact of Aquaculture on the South Australian State and Regional Communities report reveals the overall value of aquaculture production increased by $46.23 million in 2014/15 compared to the previous year.

Other findings include:

  • Southern Bluefin Tuna remains the State’s single largest aquaculture sector, accounting for 57% of aquaculture production value with a total value of $130 million.
  • The oyster, marine finfish and abalone sectors account for 13%, 8% and 5% of total production value respectively.
  • The value of marine finfish grew by 127% in 2014/15 largely due to improved farming outcomes and favourable market prices.
  • More than 1,800 South Australians are employed in the aquaculture industry, with the vast majority in regional areas including Eyre Peninsula, West Coast and Kangaroo Island.
  • More than 19,000 tonnes of farmed seafood was produced in 2014/15.

Quotes attributable to Minister for Agriculture, Food and Fisheries, Leon Bignell

It’s fantastic to see our fisheries and our aquaculture sectors thriving and new markets being opened up around the world.

South Australia is recognised as a national leader in the sustainable management and development of seafood resources, including world class research and biosecurity programs.

With direct flights into Guangzhou starting from 13 December this year, it is going to be important for us to make sure we get as much of our premium, fresh seafood onto those planes and into the China market.

South Australia is renowned for producing premium, high quality seafood - from Southern Bluefin Tuna, Hiramasa Kingfish to Pacific Oysters - which are highly sought after by interstate and international markets.

Today’s report reinforces the huge economic and employment contribution of the State’s aquaculture industry - particularly in regional areas.

Background

The State’s total value of seafood production for 2014/15 was $468.9 million, of which aquaculture contributed 49 per cent ($227.8m) with the remainder ($241.1m) contributed by the state’s wild-catch fisheries.

The Economic Impact of Aquaculture on the South Australian State and Regional Communities report is compiled by economic research and consulting firm Econsearch, based on 2014/15 production return data supplied by industry to PIRSA Fisheries and Aquaculture.

The annual report outlines the significance of the aquaculture industry in South Australia in terms of business activity, household income, employment and economic contribution.

To view the complete report visit: www.pir.sa.gov.au/aquaculture/publications

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