The Coalition Government is going for growth by unlocking additional exports and creating jobs in the aquaculture industry.
Oceans and Fisheries Minister Shane Jones and Minister for Agriculture and Trade and Investment Todd McClay have confirmed support for salmon farming, which is estimated to create an additional sector-wide NZD 500m of salmon exports by 2035.
The Coalition Government will co-invest NZD 11.72 million over five years from the Sustainable Food and Fibre Futures fund in an NZD 29.3 million programme led by New Zealand King Salmon to increase production and exports.
The joint project will look at ways to expand salmon farming around New Zealand, including in deep water, while continuing to meet environmental obligations.
The ‘Future Salmon Farming Programme’ will prove the viability of open-ocean farming for the King Salmon species, making New Zealand a leading global supplier of this high-value product. It will also drive innovation, allowing fish farmers to maximise productivity and profitability and get a better return on their products.
“We expect this investment to boost exports and produce more higher-paying jobs in our regions,” said McClay.
Jones added that this was another example of the Coalition Government’s commitment to growing the aquaculture industry and supporting innovation in the sector to benefit all New Zealanders.
“We have a strong track record of supporting New Zealand aquaculture, including investing in projects to boost mussel spat availability, extending the resource consents for marine farms, and listing seven aquaculture projects in the Fast-Track Bill, which includes two new open ocean salmon farms,” said Jones.
“It’s clear that open ocean aquaculture will be key for the industry’s growth. These farms will increase our capacity for farmed salmon by 40,000 tonnes annually in addition to the expected 10,000 tonnes from New Zealand King Salmon’s pilot open ocean farm.”
The Coalition Government has big plans for the aquaculture sector, which Jones will release soon. Open ocean salmon farming is a big part of these plans, as it directly supports the focus on delivering profitable, resilient, and sustainable marine farms around New Zealand that work for the regions, Māori, marine farmers, and the economy.
