1. Department of Employment, Economic Development and Innovation Global Issues for Fisheries and Aquaculture Jim Groves General Manager, Economic Policy Queensland Dept Employment, Economic Development & Innovation Prawn & Barramundi Conference 3 August 2011 Views expressed are those of the author and not necessarily of the Queensland Government

2. CONSUMPTION GROWING 3.5 % pa, 1.8 % pa per capita quality, tasty, nutritious, healthy Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

3. WILL CONTINUE TO GROW 2 % pa = per capita consumption doubling by 2050 = per capita consumption in Spain and Thailand today = 190% increase in total consumption by 2050 Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

4. WON’T COME FROM WILD Wild catch peaked in mid-1990s Now falling as sustainability limits reached AND management improves Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

5. DEPENDING ON MANAGEMENT 1950 20102050 Present = sustainability problems slowly addressed Precautionary = abuse of precautionary principle Optimal = rebuild stocks to maximise sustainable yield Optimal Present Precautionary Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

6. THE POLICY AGENDA Gordon-Schaefer model suggests need to: avoid over-fishing AND under-fishing enhance value minimise costs – esp management costs Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

7. AQUACULTURE THE FUTURE Total consumption up 2.75% pa AND fixed wild catch => aquaculture growth 4.2% pa to 2050 aquaculture exceeds wild catch around 2020 conservative - assumes no change in wild catch Aquaculture 38% of total supply in 2008 Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

8. HOW INDUSTRIES GROW Wellbeing - What we Value Freedom/ Environmental Material Equity Security/ Community Health Democracy Amenity Standards Safety Our Resources Institutions People Physical Natural Assets Resources/ Environment GDP/GSP Labour Employment/ Hours worked Capital Services Input Availability and Quality Input Quantity Productivity Meeting Needs – Markets

9. PRODUCTIVITY CHALLENGE Labour Productivity Growth – Australia and OECD (Whole Economy)

10. THE PRODUCTIVITY AGENDA 1. R&D 2. Journey from concept to commercialisation 3. Connect business to ideas and markets 4. Invest to support opportunities 5. Talented people Leadership, Skills, Creativity Developing, Attracting 6. Environment for innovation and business growth Regulation, Taxation, Competition 7. Productive regions Infrastructure, Clusters

11. AQUACULTURE ISSUES Aquaculture growth only in past 30 years old cf other animal protein industries Limited species availability Tropical fin fish a major opportunity Reliance on wild broodstock Genetic improvement (in a GM-world)

13. Farming technologies cf aviation Growth of cage culture AQUACULTURE ISSUES (ctd)

14. Environmental impacts Difficulty of achieving “No net impact” requirements -esp where offsets not allowed AQUACULTURE ISSUES (ctd) Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

15. AQUACULTURE ISSUES (ctd) Reliance on fishmeal, not always produced sustainably Most imports to Australia are sustainable Fishmeal requirements declining as food-conversation ratios improve and plant-based substitutes are developed Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

16. Biosecurity AQUACULTURE ISSUES (ctd)

17. QUEENSLAND ROLE Most aquaculture destined for developing countries 85% of global production (by value) in 2008 Major opportunity for Pacific region Australia/Queensland can lead in innovation World-class R&D facilities in Cairns and Bribie Is Partnerships DEEDI, CSIRO, JCU Queensland Fisheries Strategy 2009-2014 available at http://www.fisheries.qld.gov.au

18. Thank you