New South Wales aquaculture industry targets AUS $300 million by 2030

The government of New South Wales, Australia, has set an ambitious goal to double the farmgate value of the state’s aquaculture sector to $300 million by 2030. Announced at the NSW Oyster Conference in Port Macquarie on September 4, 2024, the NSW Aquaculture Vision Statement outlines the government’s commitment to working with industry through innovative research, breeding programs, and water quality improvements to achieve this target.

The newly-launched Vision Statement is a collaborative effort between the government and industry, and focuses on sustainable seafood production, the development of bioproducts, and climate change adaptation. The initiative highlights a shared approach to enhancing the state's aquaculture industry, which NSW government says is a critical part of the state's economy and environmental strategy.

Key initiatives in the plan include managing risks in the state's oyster industry through advanced breeding programs and introducing alternative species. The government will also support research at the Department of Primary Industries and Regional Development (DPIRD) and with other partners, opening new areas for marine aquaculture such as mussels, oysters, and algae - species which offer environmental benefits by absorbing excess nutrients and improving water quality, which is another focus of the Vision Statement.

In support of the growing shellfish sector, the NSW government also plans to streamline aquatic biosecurity rules to make it easier to access interstate spat supplies while maintaining protections for the industry.

The vision for NSW aquaculture also includes broader goals such as increasing Aboriginal participation in the sector, extending aquaculture lease tenures from 15 to 30 years to attract institutional investment, reducing red tape, improving business security, and engaging local communities to build social license for aquaculture activities.

The oyster industry, which is the fastest-growing segment of NSW aquaculture, plays a pivotal role in this plan. In 2022-23, the oyster sector saw a 30% increase in farmgate value, reaching $78 million. Beyond its economic contribution, the oyster industry employs thousands of people across production, wholesale, processing, retail, and agri-tourism.

The industry's strong commitment to water quality monitoring and environmental protection is another key driver of its success, the NSW government says.

To further support the aquaculture industry’s growth, the NSW Minns Government has announced a $3 million investment in upgrades to the Port Stephens Fisheries Institute, in an effort to enhance breeding and research facilities for shellfish, including oysters and finfish.

The government is also providing financial relief to aquaculture and commercial fishing businesses impacted by natural disasters and aquatic diseases, such as the White Spot prawn virus and QX disease affecting Sydney Rock Oysters.

“These past few years have been tough for oyster farmers with NSW estuaries having suffered from storms, floods, harvest area closures, disease and climate change impacts. Despite this, the increasing output of produce highlights the strength of the industry and the people who work in it,” said Minister for Agriculture and Regional NSW, Tara Moriarty, in a press statement.

“The NSW Aquaculture Vision Statement is the result of the hard work of oyster farmers and the aquaculture industry, working in collaboration with government, looking to a future where NSW grown oysters are enjoyed across Australia and in every country around the world," Moriarty added.

“The Government is investing in research infrastructure and collaborative activities to drive industry growth, the sustainable development of our natural resources, and to support innovation so that industry can manage the risks and take advantage of opportunities for the coming decades," Moriarty added.

“Our growers are embracing new opportunities and innovation, and we’re excited to see the industry grow in line with our Vision Statement launched today,” said Brandon Armstrong, Chair of the NSW Farmers Oyster Committee. “The Mid Coast region has experienced a lot of hardship the past few years, but the industry is recovering well.”