Australian aquaculture has experienced steady growth since 2002, yet its annual worth has plateaued at just over $1 billion in recent years. A new inquiry into the Australian aquaculture sector by the House Agriculture and Water Resources Committee plans to find out why.
The inquiry will investigate the status of the sector, including ways to streamline and increase the effectiveness of current regulatory frameworks, as well as the ability of business to access and commercialise new innovations.
Mr Rick Wilson MP, Chair of the Agriculture and Water Resources Committee, stated that ‘Australia has a well-deserved reputation for producing high quality, sustainable seafood, with aquaculture products accounting for over 40 per cent of Australian seafood production in terms of value.’
‘Increasing consumer demand for Australian native species, together with internationally recognised seafood quality and standards, means that Australian aquaculture is competitively positioned to access high value domestic and overseas markets. The Committee will be examining opportunities and barriers to the expansion of the sector, including the ability of enterprise to access capital and investment’ Mr Wilson said.