Aquaculture for all

ABARE Outlook - Maximising Economic Returns

Economics +1 more

AUSTRALIA - The growth in global aquaculture, particularly in the Asian region, has been a major global trend that has increased, according to Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).

There is competition in global markets for Australian fishers, and import competition in local markets.

Australia’s fisheries production in 2010–11 is forecast to decline by 4.5 per cent to $2.1 billion. The decline largely reflects the significant appreciation of the Australian dollar in 2010–11.

The assumed steady depreciation of the Australian dollar over the medium term should result in favourable price movements for Australian fishers, increasing the gross value of fisheries production.

Given the declining trend in gross value of production, there is a need to remain focused on achieving maximum economic returns from the use of fishery resources.

In order to assess the success of management against this objective, a range of indicators are available such as net economic returns, productivity analysis, profit decomposition, latency, and quota values.

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