Opportunities in farmed salmon for New Zealand: Study

A new study has identified that a stronger focus on aquaculture, specifically salmon, will drive growth in New Zealand's seafood industry.

The October report by consultancy firm, Coriolis, noted opportunities in farmed fishing due to the country having the 10th longest coastline in the world, with only a tiny fraction of this currently farmed.

The total value of New Zealand's aquaculture industry is NZ$376m with 73% of it exported. Currently the country farms three species in quantity: mussels, salmon and oysters.

Mussels make up 86% of production, salmon 12% and oysters 3%. In 2010, these made up 99% of total seafood exports and were valued at NZ$275m.

Salmon identified as key driver

According to findings, New Zealand’s key focus should be on salmon as it is a high-value species and has successfully driven seafood industries in other countries with similar climatic conditions.

In 2008, 82% of Chile's aquaculture sector was salmon and in Norway and Denmark salmon comprised 97% of its produce.

Benchmarking with peer groups, found the research, suggests salmon is the key proven opportunity going forward.

Companies are now focusing on driving the seafood sector forward via salmon, with New Zealand King Salmon applying to increase its production to 15,000 tonnes by 2015, doubling current capacity. Others have pledged large sums of money this year to expand business, with Alpine Salmon driving a NZ$20m expansion plan, the study found.

Asia to support growth

The research noted that Asia represents huge opportunities for the country's aquaculture sector, as a growing middle-class push demand for seafood.

Growth in this market is primarily coming from China and a handful of South East Asian countries.

While the majority of New Zealand's exported seafood is frozen, the report detailed that profitability lies in fresh produce, particularly in filet form, as the fish is higher in value on the market.

Challenges

The research noted limitations, with space allocation a strong problem identified by the industry.

Industry members described New Zealand's water space allocation as a debacle and added that the task of changing farms from mussels to salmon would prove costly and difficult.

Theoretically New Zealand has huge potential in salmon aquaculture, but in practice there are regulations and red tape that will limit this success,” the report detailed.

Related News

China's increasing domestic demand for seafood, impacting on the global market

China: growing, driving but challenging the global seafood market

India's marine and fish industry growing fast

India’s marine & fish industry to hit US$13.3bn by 2015, says study

New Zealand can hit government targets and triple its export market

New Zealand can triple exports over next 15 years: Report

Strikes in New Zealand's Auckland port threaten food sector

Auckland port strikes threatens Kiwi food sector

Vietnam's seafood sector seeks cheer away from depressed Eurozone

Vietnam's seafood sector seeks cheer away from depressed Eurozone

Controversy continues over New Zealand's food bill

NZ Food safety bill controversy baseless, say authorities

New Zealand's natural products sector pegged at over NZ$1bn

NZ natural products market bursts through billion dollar mark

Study shows green-lipped mussel extract to reduce arthritic pains

Green-lipped mussel extract eases arthritic pain, says study

Foreign capital needed to drive New Zealand's food sector - the key is in the export sector a Ministry report has said.

Foreign capital needed to boost Kiwi food and beverage sector: Government agency

China reopens doors to Indian marine exports

China reopens doors to Indian marine exports

Aroma NZ clinical trials Vitafoods Europe 2012

Scientific validation in nutraceuticals is invaluable, says Aroma NZ

NZ funds research for improved seeds and plants

NZ funds research for improved seeds and plants

New Zealanders' long-standing love affair with cod liver oil

New Zealanders' long-standing love affair with cod liver oil

New Zealand scientists unveil the future of fishing

New Zealand scientists unveil the future of fishing

New Zealand farmed salmon not as green as claimed, says consumer group

New Zealand farmed salmon not as green as claimed, says consumer group

Chinese noodles, with an essence of Norway

Chinese noodles, with an essence of Norway

New salmon processing company opens in the Philippines

Indian food losses open doors for cold chain consultancies

Indian food losses open doors for cold chain consultancies

New Zealand launches NZ$1bn fund to boost food, farming sectors

Submit a comment

Your comment has been saved

Post a comment

Please note that any information that you supply is protected by our Privacy and Cookie Policy. Access to all documents and request for further information are available to all users at no costs, In order to provide you with this free service, William Reed Business Media SAS does share your information with companies that have content on this site. When you access a document or request further information from this site, your information maybe shared with the owners of that document or information.