Farmed salmon. (Photo: Aquaculture NZ)

Aquaculture exports could grow by 40pct in four years

NEW ZEALAND
Thursday, June 14, 2018, 23:00 (GMT + 9)

New Zealand’s export earnings from seafood are on the rise, mainly led by aquaculture, and it is expected they reach NZD 2.1 billion (USD 1,474 million) in the year 2022, as it was expressed by Fisheries Minister Stuart Nash.

“Aquaculture is set to be the main driver for the forecast growth, thanks largely to increased mussel harvests, and higher prices as demand continues to grow in key markets,” pointed out the minister.

“We expect hatchery-bred spat to be a boon for mussel production. We are already seeing better mussels as a result of hatchery spat produced through the SPATnz Primary Growth Partnership programme," he stated.

He also highlighted that salmon production increasing is also noted, and that there are three new farms operating in the Marlborough Sounds.

The latest report of Situation and Perspectives issued by the Ministry for Primary Industries, dated in June 2018, predicts that New Zealand's seafood export earnings will increse from NZD 1.8 billion to NZD 2.1 billion by June 2022.

Aquaculture export earnings from New Zealand are forecast to reach NZD 430 million (USD 301.9 million) this year and reach nearly NZD 600 million (USD 421.2 million) in 2022, which represents a 39.5 per cent growth. Meanwhile, export earnings for New Zealand’s wild capture fish products are expected to reach NZD 1.4 billion (USD 982.9 million) this year and climb to NZD 1.5 billion (USD 1,053.1 million) in 2022 (7.1 per cent).

According to Nash, it is expected prices are higher as a result of more people wanting to eat fish and reduced global supply due to China’s plans to reduce its catch.

In addition, he highlighted it is clear the environmental credibility of their seafood products will be a vital factor in our export success. "The Marine Stewardship Council has certified many of our fisheries as sustainable. Further certification of this kind will support export prices," he stressed.

On the other hand, the minister argues that the innovative approaches to harvesting will also play their role.  Particularly, he made reference to this Government’s recent regulation changes that have allowed the use of innovative trawl technology to allow more precise fishing and to produce high quality products such as those under the new Tiaki brand.

Related article:

- New innovative trawl technology approved for commercial operations

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