Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Salmon farming. (Photo: Marine Harvest)

Salmon farming has a strong 'hypothetical potential' to grow

Click on the flag for more information about New Zealand NEW ZEALAND
Thursday, December 13, 2012, 06:00 (GMT + 9)

A new report by market research firm Coriolis for the Ministry of Business, Innovation and Employment, says New Zealand has strong "hypothetical potential" to increase its harvest for its high-value fish species.Nevertheless, the report, titled Investment Opportunities in the New Zealand Salmon Industry, does not recommend investment in the sector due to the high levels of risk, uncertainty and cost around ocean space tenure.

Norway, which has a much more developed industry, produces 75 times as much salmon as New Zealand, which is geographically similar in size, The New Zealand Herald reports.

The country's salmon exports were worth NZD 63.4 million (USD 53 million) last year, according to statistics of Aquaculture NZ.

But the Coriolis report states that although there is potential for growth, it is unlikely to occur:

"The fundamental issue is that New Zealand as a society has yet to come to a consensus on salmon aquaculture, with proponents arguing for it to become a billion dollar industry, while a wide-ranging opposition of recreational fishermen, inshore fishing companies, holiday home owners and environmental advocates oppose its growth."

Greenpeace, among other opponents to aquaculture, argue that the industry is not wholly sustainable and is damaging to the environment.

New Zealand King Salmon is the country’s largest firm with 68 per cent of production, followed by Sanford with 24 per cent of production. The former has applied with the Environmental Protection Authority to expand to 206 hectares of water space in the Marlborough Sounds, allowing for the construction of nine new fish farms.

The company’s CEO, Grant Rosewarne, said this would allow the firm to increase revenue from NZD 120 million (USD 100 million) to NZD 500 million (USD 418 million) over the next five to ten years. An interim ruling on the application is due 19 December.

"We are confident that we will be granted some space but it is in the hands of a board on inquiry who are currently considering the matter," said Rosewarne.

If extra water space can secured, Rosewarne believes that salmon farming, which emerged in the late 70s in New Zealand, could become a NZD 1 billion (USD 836 million) industry.

"There's no other primary agricultural industry that can reap such rich rewards for New Zealand, requiring such little space and conducted in a completely sustainable way," he said.

Tim Morris, the author of the report, said that in theory the sector has potential to grow to a NZD 2 to 3 billion (USD 1.67 to 2.5 billion) industry if enough space was granted.

There are four other smaller players in the country. One of these, Mt Cook Alpine Salmon, which farms in hydro power canals in the South Island's MacKenzie Basin, is in the middle of a NZD 20 million (USD 16.7 million) expansion plan to generate a production increase of 1400 per cent over the next four years.

Meanwhile, Eric Barrett, chief executive of Sanford, has expressed interest in modest growth plans within the industry.

[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United Kingdom
Jan 19, 02:20 (GMT + 9):
Parliamentary committee urges MSC to review its standards on sustainable fishing
Ghana
Jan 19, 01:30 (GMT + 9):
Improving transparency in fishing industry is essential to eradicate illegal activities
Spain
Jan 19, 01:20 (GMT + 9):
Galicia will commission another report to analyze effects of 'Brexit' negotiation in fisheries sector
Spain
Jan 19, 00:10 (GMT + 9):
Minister says Spain is ready to minimize 'Brexit' impact in fisheries sector
Australia
Jan 18, 23:50 (GMT + 9):
Austral Fisheries will use revolutionary blockchain platform to track its toothfish
Argentina
Jan 18, 23:10 (GMT + 9):
Global change could affect hake fisheries in Tierra del Fuego
United States
Jan 18, 23:00 (GMT + 9):
Four companies participate in 'fish-free' fish oil challenge
Mexico
Jan 18, 22:00 (GMT + 9):
Tuna fishing season begins in the Pacific Ocean
Peru
Jan 18, 21:30 (GMT + 9):
Jack mackerel and mackerel catch limits set for 2019
Ecuador
Jan 18, 20:30 (GMT + 9):
In search of greater power within the tuna market
United States
Jan 18, 02:50 (GMT + 9):
Lobster processor to close its plant in Connecticut
Mexico
Jan 18, 02:30 (GMT + 9):
Creation of state fisheries and aquaculture councils promoted
Australia
Jan 18, 02:30 (GMT + 9):
Threats to access small resources concern the sector
Peru
Jan 18, 01:30 (GMT + 9):
Camposol's subsidiary to strengthen shrimp production
New Zealand
Jan 18, 01:20 (GMT + 9):
IN BRIEF - What does marine heatwave mean for future of New Zealand's fish?



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Parliamentary committee urges MSC to review its standards on sustainable fishing
United Kingdom A UK parliamentary committee has called on the Marine Stewardship Council to address concerns about the organisation's standard for sustainable fishing in the world's oceans.
Threats to access small resources concern the sector
Australia Seafood Industry Australia has announced a national crisis meeting in Western Australia in February, to discuss the ongoing threats to resource access and property rights occurring across the nation.
Lobster processor to close its plant in Connecticut
United States Garbo Lobster, a company that has been operating for more than three decades in southeastern Connecticut and which supplies lobsters around the world, will close its Groton headquarters.
Sri Lankan blue crab recommended as 'good alternative'
Sri Lanka The Monterey Bay Aquarium’s Seafood Watch program has released new recommendations for several seafood products, including a "Good Alternative" recommendation for blue crab from Sri Lanka.
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation
Marona S.A.
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER