Territory Stories

Budget 2013/14 Northern Territory Economy



Budget 2013/14 Northern Territory Economy

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Tabled paper 295


Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT




Tabled by David Tollner


Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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Department of the Treasury and Finance

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Agriculture, Forestry and Fishing 155 Northern Territory Economy The value of commercial fishing and production in the Territory is estimated to increase by 9.8percent to $28.2million in 201213 mainly due to an increase in the offshore snapper catch, which includes goldband and saddletail snappers. The increase is primarily the result of a management restructure of these fisheries in February 2012, which led to fewer but more efficient offshore operators. Despite the commercial licence buyback and the closure of the Chambers and Finke Bay to commercial fishing, the value of the commercial barramundi catch in the Territory is estimated to grow in 201213 with nominal growth in prices offsetting lower catch sizes. Aquaculture in the Territory is dominated by pearls but also includes barramundi fingerlings, aquarium fish and spirulina production (used as a human diet supplement and a feed supplement in the aquaculture, aquarium and poultry industries). Pearl production is estimated to account for 64.3percent of aquaculture production in 201213, with barramundi fingerlings estimated to account for a further 34.4percent of production. In 201213, the value of aquaculture production in the Territory is estimated to increase by 33.6per cent to $23.0million, reflecting a 60.0percent increase in pearl production from $9.3million to $14.8million. The increase is mainly due to an ongoing recovery from the effects of the globalfinancialcrisis in 200809, when demand declined significantly. This resulted in pearl producers reimporting and holding large quantities of pearls, which in turn led to a substantial reduction in the number of pearl oysters that were seeded to produce pearls in subsequent years. The flowon impact of the reduction in seeded pearl oysters continued through to 201112, resulting in pearl production declining by 55.9percent. Recreational fishing plays a large role in the fishing industry, however, its economic contribution is largely captured in the retail and tourism industries. Recreational fishing is affected by weather events and economic conditions, particularly in key source markets for visiting anglers from other jurisdictions in Australia. In 201213, below average rainfall in the Territory is likely to result in a poor fishing season, which may continue to impact on fishing stocks and catches over the next few years. Additionally, the decision by the Tiwi Land Council to give exclusive rights to three lodges on the Tiwi Islands and the recent intention to introduce a permit system for the inland section of the Finniss River are expected to impact on the recreational fishing catch. This may be offset by the TerritoryGovernments fishing licence buyback program, which may increase fish stocks available for recreational fishing. Horticulture Horticulture includes fruit, vegetables, nursery products, turf and cut flowers. The bulk of production occurs in the dry season between May and November each year. Melons and mangoes comprise about threequarters of the Territorys horticultural production by value. Grapes, citrus, cucumbers, Asian vegetables, bananas and nursery production comprise the remainder (Chart12.5). Aquaculture Recreational Fishing

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