The Australian Barramundi Industry is growing rapidly in terms of production. Collectively the key players in the industry have plans to heavily invest in production capacity, which is likely to result in more than doubling of production over the next five-ten years. A key lesson learned from other emerging agrifood industries is the critical importance of developing a sustainable market by building demand ahead of the expanding supply base in order to mitigate against price erosion. Too often, new industries are preoccupied with the production challenges of their category and ignore the marketing side. Building new markets usually requires a balanced multi-channel strategy covering supermarkets, specialist retailers, food service and export. Multi-channel marketing is critical to avoid any particular channel becoming flooded. Although Australian barramundi is an iconic fish, it faces strong competition from cheap imports.
Pivotal to the success of an emerging industry in its growth phase, is the need for industry discipline with the necessary governance and funding frameworks and processes in place. Most of all, the industry needs to be guided by a strong and focused strategic plan which has the full and enthusiastic support of the member companies.
Final report
The strategy was facilitated and written by McKINNA et al with close input from members of the Australian Barramundi Farmers Association and ABFA CEO Jo-Anne Ruscoe.
At the time of writing this strategy, it was difficult to assess the full extent of the pandemic shock and ABFA were in the process of preparing a number of response scenarios. How these scenarios play out will influence the priorities and timing of this strategy and ABFA will need to remain flexible in its implementation of the plan. Because of the pandemic, projects identified in the earlier drafts of this strategic plan that were deemed to be important to the long term development of the industry have had to be put on hold because of the significantly reduced resources. This final version of the strategic plan has been edited to reflect what industry consider is realistically achievable in the current funding environment. The programs that have been put on hold will be revisited when resources permit.
Notwithstanding the disruption of the COVID 19 event, this strategy remains sound in its intent and will be relevant for the five year strategy horizon and beyond.
