Aquaculture is the fastest growing primary industry in Australia, the gross value of Australian aquaculture production was US$ 251,3 million ,contributing 34 percent of the total gross value of fisheries production.
The aquaculture industry is largely based in regional Australia, and makes a significant and positive contribution to regional development. Aquaculture adds diversity to a region's economic base and creates demand for educational and training services, extension services, infrastructure and locally produced goods.
Aquaculture is growing each year, driving the growth has been increasing world demand for fisheries products that the world's commercial fisheries are increasingly unable to meet. The Australian aquaculture industry's vision is to triple its yearly sales to US$ 1,86 billion
History and general overview
Today, aquaculture is the fastest growing primary industry in Australia, increasing in value by an average of 13 percent per year since 1990 (AFFA, 2002). In 2003, the value of Australian aquaculture production was approximately US$ 251,3 million (FAO, 2003).
More than 95 percent of Australian aquaculture production is from marine waters.
Domestic demand for seafood is increasing in Australia. In the late 1930s, Australian seafood consumption was 4.9 kilograms per person, by 1998-99, annual per capita consumption had more than doubled to 10.9 kilograms, or about 10 percent of the country's total unprocessed meat intake (ABS, 2000). Unfortunately, Australian caught or farmed fish accounted for less than half of this seafood consumption (3.6 kilograms per capita).
In addition to a rise in the demand for seafood, increasing affluence in countries such as China will see stronger demand for non-edible fisheries and aquaculture products such as pearls, crocodiles and ornamental fish.
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