Seafarms Group Plans to Launch Australia Into a AQUACULTURE LEADER
The Australian, Northern Territory, and Western Australian Governments have announced their support to what could become one of the largest fully integrated prawn aquaculture projects in the world. Australia’s desire to develop its sparsely populated northern region, combined with Asia’s hunger for seafood, underpins this massive new aquaculture venture by producer Seafarms Group Ltd. Worldwide, prawns account for about 4 million tons of the total 74 million tons of farmed seafood produced. China, India, Thailand, Indonesia, Vietnam and Ecuador, are the biggest prawn producers, all
According to Seafarms’ Managing Director, Chris Mitchell, the company conceived of the project because, “80% of the world’s fisheries with sustainable catch limits are overfished.” Global demand is increasing and the only way of supplying it sustainably is through farming. At the same time, the company was looking for optimal ways of utilising available water and found that
80%
of the world’s fisheries with sustainabl demand is increasing and the only way of supply through farming.
of which farm the whiteleg variety, plus smaller amounts of the more expensive Black Tiger Prawns (Penaeus monodon). Australia currently produces about 5,000 tonnes per year of farmed prawns, which is nothing compared with the others, but that equation will change if the company’s aquaculture project comes to fruition. Seafarms is already the biggest prawn farmer in Australia. Soon it will be one of the biggest in the world.
growing prawns would “add an enormous amount of value” to Australia’s waters. Aptly named “Project Sea Dragon” this A$2 billion (US$1.45 billion) upcoming project is centred on a vast cattle station on the
border of the two northern territories. There the company aims to start building ponds in mid 2017 (with most of the work being done during the dry season) and by late 2018 expects to be exporting to Asia. The Seafarms Group is currently proving the feasibility of the project with a A$16 million (US$ 11.5 million) study, and has begun securing required approvals and
le catch limits are overfished.” Global ying it sustainably is
agri-food company, listed on the stock market, which operates, builds, and invests in sustainable aquaculture projects that produce high-quality seafood. As Australia’s largest producer of farmed prawns Seafarms grows, processes and distributes the wellknown Crystal Bay Prawns® premium brand. Since its inception over 30 years ago, the company has been farming banana prawns in Queensland on a relatively small scale and has only recently commenced growing black tiger prawns. Although the smaller, sweeter banana prawns are native to Australia and are preferred by the Australian palate, the larger black tiger prawns are preferred by markets in Asia and other parts of the world. The Northern Australian coast is their natural habitat. The company is utilising Seafarm’s operations in north Queensland as a pilot project for Project Sea Dragon, which will supply protein for the world, while decreasing the fishing in the wild that depletes the ocean. The project will be developed as an integrated system that includes all phases of prawn production - breeding, hatching, growing out, processing, and exporting.
licences to operate.
Who is
Seafarms? Seafarms Group Ltd is an Australian
Northern Australia is uniquely suited to farm seafood, since it’s difficult for contamination to spread from other countries to this island continent. However, its isolation also requires that seafood be farmed carefully to prevent contamination starting in Australia. The growout farm will be supported by a quarantine
facility in Western Australia, as well as breeding facilities and hatcheries near Darwin in the Northern Territory. The geographic spread of these facilities is designed to enhance overall biosecurity of the project.
when operating at full capacity. He estimates that 700 people will work at Legune, 600 at Kununurra, and another 300 at Darwin and associated facilities at Wyndham and Exmouth in Western Australia. At the same time, Seafarms will be looking for ways to streamline the production process and reduce costs to ensure they have competitive pricing for exports to Asia and the United States. Project Sea Dragon also looks to be highly profitable. In expanding the company’s current production of 1400 tonnes of farmed prawns to
Operations will begin on a nominal 1,000 hectares (ha) of land based ponds, and will produce approximately 10,000 tonnes per annum (tpa) of prawns during the first production phase, eventually expanding to 10,000 ha. To maintain surrounding river and coastal environments, and support adjacent agricultural land uses, Project Sea Dragon will utilise sustainable land use and integrated design practices. Prawn production on this scale is labour intensive. Chris Mitchell expects the project to provide up to 1,600 jobs in Northern Australia
100,000 tonnes, while building new saltwater ponds across the northern pastoral lease, Seafarms estimates that the project’s costs will be offset by a 44% return on investment. Assuming a price of A$15 per kilogram, firststage output of 10,000 tons should bring in revenue of A$150 million a year, rising to A$1.5 billion when the company is producing fully. There will be plenty of buyers. In addition to China as the world’s biggest purchaser of prawns, India, Japan, South Korea, and the United States will be target markets. Project Sea Dragon may be the ideal enterprise to kickstart the development of Australia’s northern territories.
Seafarms
is already the biggest prawn farmer in Australia. Soon it will be one of the biggest in the world.
Corporate / General Offices: Seafarms Group Limited Level 11, 225 St George’s Terrace Perth, Western Australia Fax
: +61 8 9321 4411
Tel
: +61 8 9321 4111
Emai : info@seafarms.com.au http://seafarmsgroup.com.au/
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