The fast-growing industry generates more than $1 billion annually for the Australian economy and CSIRO research scientist Alistair Hobday says aquaculture operators have been making a strong impression in the international marketplace.
"I think aquaculture operators in Australia are very sophisticated, they grow high-value products that go to international markets as well as our domestic markets and I think they're well set up for coping with these changes," he said.
But Dr Hobday says aquaculture operators will need to find ways to adapt to rising temperatures.
"We've seen cases around Australia where warming waters that have been unusually warm have led to declines in salmon production, have led to declining oxygen in tuna pens," he said.
The CSIRO says temperatures have risen by one degree Celsius in the past century in Australia, but by more than two degrees in the south-east and south-west of the nation.
It predicts a further rise of two to three degrees by 2050, a rate faster than for the rest of the world.
Interstate moves are likely
Dr Hobday thinks some aquaculture industries will need to move states to ensure species are bred in suitable temperatures.
"I think we'll see farmers growing a different mix of species, but because the Australian seafood industry is very well integrated, instead of you as a consumer purchasing your barramundi from Queensland, you'll be purchasing it from the Barossa Valley," he said.
Also at the global conference, Ros Harvey of Sense-T says the industry is making increasing use of technology, such as using a sensor to monitor the health of oysters.
"They can accumulate biotoxins which make them dangerous to eat, so by using data and very clever models we can actually only shut when we need to and be able to predict when we're going to shut and that's really important for industry, so they can get product out to market," she said.
The Federal Government has committed to boosting the industry, releasing a national aquaculture statement at the conference.
It outlines a commitment from the Government to build an efficient and sustainable industry.
Agriculture Minister Richard Colbeck says cutting back the administrative processes in the aquaculture industry will help.
"There are a few roadblocks that exist I think in respect of some planning and approval processes and if we can make them more streamlined and easy for industry to work through, I think that it will benefit," he said.
"[There are] a range of things that need to operate at a state level rather than at a Commonwealth level so all of these things can be considered as part of this process and give the industry and government a good sense of what needs to be done to continue to grow this industry, which has huge opportunity here in Australia."
The Federal Government says a next step will be to release a strategy for the aquaculture industry.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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