The objectives of the Northern Australia aquaculture industry situational analysis project were to identify key challenges and opportunities facing the northern Australian aquaculture sector, and to explore potential solutions and identify the most strategic research projects for further investment.
- The study found that annual gross value product from Northern Australia aquaculture was around $223 million predominantly barramundi, prawns and pearls with several other species making up the remaining 3% of value.
- Indigenous Australians are responsible for managing 45% of of the land and sea country in northern Australia. There are multiple avenues for Indigenous communities to engage with aquaculture. An important step is understanding if a community is interested and the communication of what an aquacultural business is, and how they might want to be involved.
- Investment in existing key industries and in emerging sectors (tropical rock lobsters, sea cucumbers and other finfish) where government and industry support and investment are driving establishment have potential to underpin growth.