In a climate of increasing seafood demand and fully exploited wild capture fisheries, the aquaculture industry has undergone significant growth both internationally and nationally. In Western Australia, aquaculture is the only opportunity to expand the production of the seafood industry, as the commercial fisheries are unlikely to increase in size especially as competitive pressure grows from recreational fishers, foreign poachers, cheap imports and higher input costs. Without any action, by 2020, it has been estimated that 75% of seafood consumed will be imported and WA will be running a significant and growing seafood trade deficit.
WA has comparative advantages for aquaculture, namely, an extensive coast line, locally available agriculture proteins to assist with Fish meal replacement, and proximity to the developing markets of India, Middle East, SE and East Asia.
To facilitate the significant investment needed in Western Australian, the aquaculture industry needs to address the fundamentals of public policy, governance and operational changes within the machinery of government. These are:
A State Aquaculture Policy, endorsed by Cabinet, should include;
• recognition of the State’s seafood supply issues;
• the vision an industry worth $10 billion GVP by 2025:
• WA to be the leading Australian jurisdiction for aquaculture production;
• WA aquaculture to include seafood and non-seafood products for example - algae for bio-diesel, coral and sponges;
• WA to be a net seafood exporter; and WA to secure 10-15% of all new venture capital investments in Australia. (This 5 times the current level of venture capital investment.
Governance of the industry should be through a stand alone Aquaculture Act that;
The objectives of the State Aquaculture Policy should include;
• Incentives for major feed companies to commence feed production in Western Australia.
• Statutory zoning of 100,000 hectares of coastal waters for aquaculture industry development. Eg. As the State did for geothermal exploration. These plots should be investment ready ie. baseline environmental work complete and technical assessments.
• Facilitate Industry Cluster Development, in tropical and warm temperate areas of the State. eg. Metropolitan North West Corridor
• Two State hatcheries, one tropical and one temperate, each should have the capacity to produce 3 million fingerlings per annum, and genetic improvement of stock through family lines projects.
• RAS cluster for live fish production and sales.
• Create the processing capacity for WA aquaculture industry through public/private investment in infrastructure.
• Continued investment and development of a WA food strategy.
• R& D capacity in new food product development and cold chain logistics.
• Leading R& D centre for bio-prospecting and natural products chemistry for medicinal and industrial applications.
• Trade development in the key markets of Australia, Japan, North Asia, SE Asia and India.
• Fattening, Ranching and restocking – enable fisheries to optimize catch rates, certainty and value of catch.
• Incentives for investment in early stage eg. Innovation Investment funds, flow through tax shares.
• State agency assistance to locate and attract investors, with a strategic interest in seafood industry development, to WA aquaculture projects.
• Maintain investment in WA fish health services that are modern and contemporary.
• Indigenous aquaculture development policy.
• The use of the internet by the appropriate government agency (ies) to improve the transparency of processes and reporting, especially EMP (?) record of industry.
• Pro-forma environmental management plans and reporting for sectors.
• Support with resources the key recommendations of the Lendich report and the stage 1: Investment Attraction and strategic marketing implementation plan. Eg. Allocate up to $8 million, matched with industry funds, the continued research, development and extension of aquaculture in Western Australia.