The Tasmanian industry employs over 5,000 full-time equivalent positions, primarily in regional areas.
Tasmania’s Atlantic salmon industry is on the brink of a significant milestone, poised to exceed AUD 1 billion (US$630 million) in exports after shipping 80,959 metric tons to 21 countries in the past five years.
A Deloitte report recently pinpointed the Tasmanian salmon industry as Australia’s most valuable seafood sector, worth AUD 1.36 billion (US$857 million), and contributing AUD 770 million (US$485 million) annually to regional Tasmania. The industry employs over 5,000 full-time equivalent positions, primarily in regional areas.
With countries such as Vietnam, the Philippines, and Indonesia becoming increasingly lucrative markets for Tasmanian salmon, the future for the industry looks bright.
Australian Federal Minister for Trade, Senator Don Farrell, praised the industry’s performance during a national cabinet meeting on Tuesday, highlighting Tasmania’s enviable reputation for offering “clean and green” products.
“This milestone underscores the significant impact of the salmon industry on the region’s economic development and trade. We expect to hit the $1 billion target by the end of the year,” said Luke Martin, CEO of Salmon Tasmania.
Polyfoam, a family-owned Australian business that manufactures fish boxes for the aquaculture sector, exemplifies the small businesses thriving due to the burgeoning salmon industry. The company is set to double its capacity with the opening of a new AUD 10 million (US$6 million) facility at Westbury, indicative of the industry’s stimulating effect on regional employment and economic growth.
With Atlantic salmon exports making up 75 percent of all seafood exports from the region, the industry’s looks set to continue to flourish.