Territory Stories

Budget Paper No.6 1997/98 Northern Territory Economy



Budget Paper No.6 1997/98 Northern Territory Economy

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Tabled Paper 3223


Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT; Tabled Papers




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Fishery resources with growth potential in the short to medium term include red snappers and shark. The outlook for aquaculture is bright with successful prawn culture occurring since 1996 in the Darwin region and considerable interest from investors which could lead to an industry worth $30-40 million within 5-10 years. The barramundi aquaculture industry is going through a period of adjustment due to current limitations in the market for plate size fish. The Darwin Aquacultural Centre will be moved from the old Stokes Hill Power Station to Channel Island by December 1997. The roles of the Centre include: research into barramundi, golden snapper, mudcrabs, pearl oysters and zooplankton; and to provide support for the aquaculture industry. This move will significantly improve the operation of the Centre and hence provide better support to the industry. While seasonal conditions and market price fluctuations can be unpredictable, demand for quality sea food, particularly prawns, from countries in the Asian region can be expected to remain buoyant in light of consumer preferences and growing per capita incomes. Demand from markets in southern Australia for fresh fish is also strong, although to date the potential of these markets has not been fully exploited. Wild stock industry expansion will result from concerted marketing efforts and continued development of regional fisheries to satisfy both overseas and domestic demand. Rural Industries and Fisheries 64