Forecast brighter for fish production and exports

AUSTRALIA - The outlook for fisheries is looking brighter as the value of production and exports is likely to stabilise this year.

Speaking at the Australian Bureau of Agricultural and Resource Economics Outlook conference in Canberra yesterday, the acting branch manager of natural resource management, Peter Gooday, said relief was on the way after years of higher costs and low prices.

"The value of fisheries production is forecast to increase to $2.15 billion in 2005-2006, and this is likely to increase further over the medium term as the Australian dollar weakens and export markets grow," he said.

The value of production has been declining since 1999-2000, mainly due to drops in the value of tuna and prawns.

Aquaculture production has fallen over the past three years to about 30 per cent of the value of total production.

The value of edible seafood exports fell from $1.4 billion to $1.2 billion last year; 35 per cent below its peak in 2000-01.

Source: The Age