The latest “Situation and Outlook for Primary Industries” report, released by the Ministry for Primary Industries (MPI), paints a positive picture for the future of New Zealand’s seafood sector, according to industry body Seafood New Zealand.
Tim Pankhurst, chief executive of Seafood New Zealand, said the new report reflected the industry’s own assessment – that the future of commercial seafood, both wild-capture and aquaculture, was “in good heart.”
“The report confirmed that export prices for wild-capture fisheries such as hoki, jack mackerel and barracouta are expected to continue to grow, driven by increased overseas demand and sustainability constraints on volume,” said Pankhurst. “The report was also confident around aquaculture and forecast that expanding aquaculture production will drive increased export volumes of mussels, oysters and salmon.”
MPI has predicted a 4.4 percent increase in seafood exports to NZD 1.8 billion (USD 1.3 billion, EUR 1.1 billion) to June 2018, and that this will rise to NZD 2.3 billion (USD 1.7 billion, EUR 1.4 billion) by 2025.
Pankhurst said MPI’s report mirrored the recent BERL (Business and Economic Research Ltd.) report “The economic contribution of commercial fishing to the New Zealand economy.”
“BERL found the fishing industry had a total output value of NZD 4.1 billion (USD 2.9 billion, EUR 2.4 billion) to New Zealand – and while aquaculture was not included in the BERL report, we know it adds at least another NZD 500 million (USD 349.2 million, EUR 296.6 million).”
“When you add the contribution it makes to the domestic job market, investment in infrastructure, and the importance it has to satellite industries that depend on fishing, the regional and national significance of the industry to New Zealand is clear and must be valued.”
Pankhurst highlighted that the forecast export rise is despite the constraints on volume by an industry with a strong focus on stock sustainability.
“That wild-capture volumes remain stable while exports rise is testament to an industry driven by innovation – and one that recognizes that future sustainability will continue to be driven by fishing smarter not fishing more,” he said.
