The Government has confirmed support for New Zealand’s salmon farming sector, which is estimated to create an additional sector wide $500 million of salmon exports by 2035.
Minister for Agriculture, and Trade and Investment, Todd McClay, today announced the Government will co-invest $11.72 million over five years from the Sustainable Food and Fibre Futures fund as part of a $29.3 million programme, led by New Zealand King Salmon to increase production and drive up exports.
“The joint project will look at ways to expand salmon farming around New Zealand including in deep water while continuing to meet environmental obligations,” said Mr McClay.
“The ‘Future Salmon Farming Programme’ will prove the viability of open ocean farming for the King Salmon species to make New Zealand a leading global supplier for this high value product.
“It will also drive innovation, allowing fish farmers to maximise productivity and profitability and get a better return for their product. We expect this investment to boost exports and produce more higher paying jobs in our regions,” he said.
Oceans and Fisheries Minister, Shane Jones says the commitment 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,” said Mr Jones.
“It’s clear that open ocean aquaculture is going to be key for the industry’s growth. These farms will increase our capacity for farmed salmon by 40,000 tonnes annually in addition to the expected 10,000 tonnes from New Zealand King Salmon’s pilot open ocean farm.”
“The Coalition Government has got big plans for the aquaculture sector, which I’ll be releasing in full soon. 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,” he said.
