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Title:

Seafood CRC: funding options for the Australian wild-catch prawn industry

Project Number:

2011-749

Organisation:

Ridge Partners

Principal Investigator:

Ewan Colquhoun

Project Status:

Completed

FRDC Expenditure:

$50,552.00

Program(s):

Industry

Funding options for the Australian wild-catch prawn industry

Final Report
ISBN:978-0-9874281-4-1
ISSN:
Author(s):Ewan Colquhoun
Date Published:October 2013

This project provided input into the National Prawn Market Development Strategy. It has established a process to collect voluntary contributions on a national basis for the prawn industry across all license holders in the wild-catch and aquaculture sectors.

The value proposition for prawn license holders is compelling: an average investment of 2.6 c/kg of landed harvest volume will result in an 11 c/kg increase in average net beach/pond prices by the third year. This is an attractive 4.2:1 multiplier on fishers’ contribution investments.

Objectives

1. Review and collate data related to funding mechanisms that have worked / haven't worked and the reasoning behind their success

2. Document external stakeholder views re arrangements and options for funding mechanisms (e.g. levy agencies; financiers, diesel hedge managers; prawn service agencies, etc).

3. Draft and release a Briefing Paper to Industry identifying funding options, collection mechanisms, impacts, cost effectiveness, pro's and con's of each, etc

4. Conduct regional industry meetings and document responses to Briefing Paper issues - funding options, collection mechanisms, strike rate, fishery and enterprise equity, funds disbursement andadmin, etc

5. Document the preferred funding option in detail, related mechanisms rates and impacts, proposed adoption pathway, implementation process and time frame

6. Conduct a workshop for industry leaders / stakeholders to discuss, refine and confirm the recommended funding option and implementation pathway

7. Draft and submit a final report of the project process and recommended outcomes to industry and the Seafood CRC.