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Facts on the Northern Territory`s seafood industry

Investment

  • Approximately half a billion dollars is invested in licences, vessels and equipment that are operated in waters adjacent to the Northern Territory.
  • Over 650 businesses are directly involved in the professional seafood industry, many having come from interstate to re-establish in the Northern Territory.
  • There is a very significant number of businesses such as Chandles, mechanics, boat yards, electricians, refrigeration specialist, carpenters, welders and other service providers that are also dependent on a healthy seafood industry for their continuing viability.
  • Presently there are approximatly 330 registered commercial vessels operated by the professional seafood industry in waters adjacent to the Northern Territory.

Employment

  • More than 1400 people are employed in the professional seafood industry and the number is continuing to grow.
  • An estimated $180 million in wages has been payed over the past three years by businesses directly involved in the professional seafood industry.
  • During the past three years, more than 1100 people have been formally trained in the Northern Territory to obtain qualifications that are used in the industry.

Production

  • In 2000, production from aquaculture and wild harvest from waters adjcent to the Northern Territory was valued at $150.6 million.
  • Between 1997-98 and 1999-2000, the production value totalled $374.6 million. By the time this product reached the consumer it had a conservatively estimated value of
    $1 billion.

Markets

  • The majority of Territorians rely on the professional seafood industry for their local seafood supplies.
  • The industry also sells product on every major Australian seafood market.
  • Northern Territory product is exported to markets in North America, together with a number of countries in Europe and Asia. These markets are continuing to expand.

Expenditure

Examples of expenditures by the professional seafood industry which benefit businesses that service the industry are:

  • An average mub crab fishery business spends at least $100,000 per annum in the operation of a licence, while an average barramundi business can spend up to $150,000.
  • An average shark vessel can spend up to $200,000 per annum and a prawn trawler can spend significantly more.
  • Tens of millions of dollars are spent on fuel each year by vessels that harvest waters adjacent to the Northern Territory.

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