The project has a total budget of AUS $1.2 million.
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New Zealand's Minister for Agriculture, Trade and Investment, Todd McClay, has confirmed a $455,000 investment from the new Primary Sector Growth Fund, aimed at developing specialised feed for King salmon.
The project itself, led by global aquafeed company Skretting and with a total budget of AUS $1.2 million, will involve designing a feed specifically tailored to the conditions of New Zealand’s King salmon.
This initiative is part of the Government’s plans to grow aquaculture into an AUS $3 billion industry. Additionally, the ‘Invest New Zealand' campaign has been launched to make it easier for world-leading innovators to invest and grow in the country.
"This is another practical step in our wider plan to double the value of New Zealand's exports over the next decade. We’re backing sectors with high growth potential and supporting the science that will help get them there," Mr McClay says.
At the same time, New Zealand’s first open-ocean salmon farm, Blue Endeavour, has been approved to operate. It is expected to produce 10,000 tonnes of salmon per year and generate up to $300 million in annual export revenue.
"This is about backing technology and expertise to lift productivity and strengthen the global competitiveness of our salmon industry," the Minister concluded.
