New Zealand’s government is aiming for growth by boosting exports and creating jobs in the aquaculture sector, which is expected to generate an additional NZ$500m in exports by 2035.
The coalition government will be co-investing NZ$11.72 million over five years from the Sustainable Food and Fibre Futures fund as part of a NZ$29.3 million programme led by New Zealand King Salmon.
“We expect this investment to boost exports and produce more higher paying jobs in our regions,” said the Minister for Agriculture, Trade and Investment, Todd McClay.
The joint project will look at ways to expand sustainable salmon farming, including through the ‘Future Salmon Farming Programme’ which aims to demonstrate the viability of open ocean farming for the King Salmon species, making New Zealand a leading global supplier.
Oceans and Fisheries Minister Shane Jones says this is another example of the coalition government’s commitment to growing the aquaculture industry and supporting innovation in the sector.
“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,” he said.
Open aquaculture is expected to increase the country’s capacity for farmed salmon by 40,000 tonnes each year in addition to the anticipated 10,000 tonnes produced through the New Zealand King Salmon’s pilot open ocean farm.
“The coalition government has got big plans for the aquaculture sector,” continued Jones.
“Open ocean salmon farming is a big part of these plans, as it directly supports our focus on delivering profitable, resilient and sustainable marine farms around New Zealand, that work for the regions, Māori, our marine farmers and the economy as a whole.”
