Australian fisheries – outlook and economic indicators

Robert Curtotti

Manager – Fisheries Economics

ABARES

World seafood consumption (live weight equivalent)

Seafood consumption in 2008: (live weight equivalent)

frozen, cured or canned

fresh

Source: FAO

Seafood supply (live weight equivalent): average 2005-2007

Source: FAO

World fisheries production

Aquaculture

Mt

Wild

caught

Source: FAO

World trade by species group

Source: FAO

World export price by commodity group

crustaceans

fish

molluscs

Source: FAO

Australian fisheries production

Aquaculture

2009-10

A$ billion

Wild caught

Average beach price - key species

Rock lobster

prawns

Abalone

Tuna

Australian fisheries production by species

Australian trade in fisheries products

Fisheries trade mix in 2009-10

Exports

1.2 A$ billion

Imports

1.5 A$ billion

Australian exports of fisheries products (2009-10 A$)

1999-00

2.7 $ billion

2009-10

1.2 $ billion

Outlook for Australian fisheries production

2010-11 A$ billion

Profitability over the medium term

• Factors we can’t control• exchange rates• fish prices• fuel and other input prices

• Fishery management• as cost effective as possible• set effort levels that are sustainable and

that maximise economic returns

Role for economic indicators

• Gross value of production

• Economic returns

• Productivity analysis

• Profit decomposition analysis

Commonwealth Trawl Sector

Economic returns in the Commonwealth Trawl Sector of the Southern and Eastern Scalefish

and Shark fishery (SESSF)

Productivity indices by scale of operation for the Commonwealth Trawl Sector

Input index

Output index

Productivity index

Productivity indices by scale of operation for the Commonwealth Trawl Sector of the SESSF

Fuel price

Output price

Labour price

Profit

Productivity

Summary

• Profitability likely to remain under pressure over the medium term

• Economic indicators provide information about trends in economic returns