Seafood set to become fast-lane winner

AUSTRALIA - Poised for rapid growth, the aquaculture industry will challenge for the title of South Australia's fastest growing industry over the next decade.

SA Aquaculture Council chairman Bruce Zippel believes the state's aquaculture sector could easily become a $1 billion industry in the foreseeable future. A survey of industry leaders and organisations indicates the value of aquaculture in SA is likely to jump from $265.5 million in 2006 to between $720.5 million and $820.5 million in 2016.

It is based on tuna increasing in value to $400m-$500m, finfish to $200m, abalone $60m and oysters to about $50m.

When the industry projected its value out to 2013 a couple of years ago, Mr Zippel said the forecast was for a $650 million industry.

Source: The Advertiser