Seafood exports from New Zealand are forecast to reach a record NZD 2 billion (USD 1.5 billion, EUR 1.3 billion) annually by 2020, according to the latest Ministry for Primary Industries (MPI) 2017 Situation and Outlook report.
Export revenue for the year to June 2017 is expected to be NZD 1.8 billion (USD 1.3 billion, EUR 1.1 billion), which is broadly in line with last year, before steadily increasing.
The total annual value of the sector, including the domestic market, employment and processing is estimated at NZD 4.2 billion (USD 3.1 billion, EUR 2.6 billion).
“It is a case of value before volume,” said Tim Pankhurst, chief executive of Seafood New Zealand. “We are not catching more fish – the wild capture total has remained stable over the past five years.
“Where there is an increase in volume is in the aquaculture sector, which continues to perform strongly.
Export prices are expected to continue to improve due to growing demand, said MPI.
Rock lobsters are the country’s most valuable seafood export, with mussels a close second, followed by hoki, squid, salmon and orange roughy.
At 6.6 percent growth per year, aquaculture is expected to be the main driver of increased volumes – mainly through the gradual supply of hatchery-bred mussel spat to support greater mussel production, as well as the planned expansion of salmon farming.
“The industry knows that fishing smarter is the way of the future,” said Pankhurst. “As the report points out, the quota management system (QMS) sees New Zealand wild fish stocks managed at, or above, levels that ensure the fisheries are sustainable. Adding value is the road to growth.
“The innovation and science coming out of the industry is staggering – from nets that allow small fish to escape and keep the others in premium condition until landed to the exciting use of by-products in medicine, nutraceuticals, pet and stock food and fertilizer,” he said.
New Zealand seafood is exported to more than 120 countries, with the key markets being China, Australia, the United States and the EU.
