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NEW ZEALAND - New Zealand aquacuulture to grow by 3.3 percent, to NZ$311 million in the year ending December 2012

Seafood prices are holding up despite global economic conditions, due to strong demand out of China and Australia. Wild capture volumes are stable but aquaculture production is expected to increase in the medium term government report shows

June 13, 2012

New Zealand is a very small player in world fisheries markets, accounting for 0.5 percent of world wild capture production and 0.2 percent of aquaculture production in 2008. The New Zealand Ministry for Primary Industries annual Situation and Outlook for Primary Industries report shows ninety percent of New Zealand's seafood production is exported, and seafood export earnings account for around four percent of total merchandise trade.  The report, which includes seafood for the first time this year, says total export earnings in the fisheries sector in the year ending June 2012 is estimated to be NZ$1.64 billion.

Key markets for New Zealand seafood exports are China, Australia, the US, Hong Kong and Japan, which account for 66 percent of seafood export earnings. In the year ended December 2011, China passed Australia as the seafood sector’s largest export market, at $300 million, accounting for 20 percent of total earnings.

The export value for Aquaculture in 2011 was $307 million. It is expected to rise by 3.3 percent, to NZ$311 million in the year ending December 2012, and at an increasing rate in the long-term. Aquaculture species are currently limited to greenshell™ mussels, oysters and salmon. Greenshell™ mussels accounted for 74 percent of revenues in 2011 There are opportunities for new species to be realised commercially, including paua.

Download Situation and Outlook for Primary Industries (SOPI) 2012  (PDF 10MB) from the link below

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