The FRDC's 2015-20 RD&E strategy identified the development of new and emerging aquaculture opportunities as a national research priority. Aquaculture currently contributes 43% and $1 billion to the value of Australian seafood production, and has increased 12% from 2002-03 to 2012-03 (ABARES 2014). Increases were predominantly in finfish, specifically salmonids (worth $497 million, 48% of aquaculture value in 2012-13), and edible oysters (currently 9% aquaculture value) (ABARES 2014). Other established key aquaculture species are wild-caught and farmed Southern Bluefin Tuna (15% value) and prawns (6% value).
In a global context, aquaculture production is projected to expand by 2030 to provide almost two-thirds of fishery product consumption (World Bank and FAO). An increase of around 36% in aquaculture production (29 million tonnes from 2010 to 2030) is needed to meet this demand. In Australia, apparent seafood consumption is increasing (3% p.a. 2000-01 to 2012-13), and imported seafood currently supplies two-thirds of product consumed (ABARES, 2014). Consequently, there are increasing opportunities for Australian-grown high value aquaculture products in domestic and export markets. In response to the increased demand, there are initiatives in Australia to expand production of established industries: for example, Atlantic Salmon in Tasmania, and prawn and Barramundi in the north (WA, NT and QLD). However, to meet the market for seafood, now is a critical time to develop sustainable, productive and profitable new aquaculture industries that will complement growth in established sectors.
The Subprogram will be established to lead the FRDC's priority activity in new and emerging aquaculture development, and to coordinate the strategic planning, funding and project administration related to the initiative. New and emerging opportunities/species for aquaculture will be identified that would benefit from RD&E funding to achieve rapid results in terms of industry establishment, production increases and profitability. This is a 6-month project to establish the Subprogram.