New aquaculture legislation and an increased hoki quota are positioning New Zealand’s seafood industry for continuing growth.
The Ministry of Agriculture and Forestry (MAF) on Wednesday released a half-year update to the annual “Situation and Outlook for New Zealand Agriculture and Forestry” (SONZAF) report, which now includes seafood.
According to the report, wild fisheries production was up 2.4 percent to 442,000 metric tons for the year through 30 September, driven largely by a higher hoki quota.
Earnings from wild fisheries were up NZD 22.9 million to NZD 1.22 billion, while earnings from farmed seafood exports were also up 24.2 percent to NZD 308.7 million, thanks to a volume increase of 11.9 percent.
The report also stated that the aquaculture legislation passed in August sets the legal framework needed to support the industry’s growth. MAF forecasts that aquaculture production will increase at a moderate rate in the short to medium term.
Mussel exports were the single largest earner this past year at NZD 221 million, followed by rock lobster at USD 213 million, hoki at NZD 188 million and squid at NZD 104 million.
