working on a project to establish a freshwater aquaculture facility on the South Coast of NSW

Analysis and forecast of market

In recent years, there has been considerable interest in the grow-out of Murray cod to satisfy ever increasing market demand. Farmed Murray cod is considered premium product when compared to other well-known farmed species. There is considerable scope for further sales of Murray cod within Australia since farmed Murray cod has been well received in high-end restaurants in both Melbourne and Sydney. The development of export markets is also the long-term goal for the Australian Murray cod aquaculture industry.  Exports of Murray cod have already occurred to many Asian countries, with the responses overall being positive.

Domestic market evaluations undertaken in north-western Victoria provided positive consumer feedback and resulted in regular orders of product from selected restaurants. Export market evaluations in the form of surveys and taste tasting events were conducted in several Asian countries including Malaysia, Singapore, Japan, Thailand, Hong Kong, Indonesia and South Korea.  Murray Cod was well received in all these countries and there was a preference for whole and filleted fish with quality and reliability of supply being important considerations for buyers.  Short term export demand estimates ranged from hundreds of tonnes p.a. in the short term up to 500–1000 tonnes p.a. in the 5–10 year range. 

The aquaculture method of choice for this project is Recirculating Aquaculture System (RAS). We are deploying RAS because other "conventional" aquaculture methods, such as outdoor pond systems, net pen and other natural water body lease based systems, are not sustainable in the long term, due to significant environmental issues and their inability to guarantee the safety of their products to the customer. Conversely, indoor fish production using RAS is sustainable, infinitely expandable, environmentally compatible, and has the ability to guarantee both the safety and quality of the fish produced throughout the year.

Marketing and sales

Murray cod are well established aquaculture species with a relatively stable price and expanding market. There is excellent road access from the project site to Wollongong, Sydney and Canberra markets. We will tap into the local distribution channels and expertise to help us leverage of the well-developed local oyster industry’s success.

Currently most farmed Murray Cod are sold on the Australian domestic market. We are looking to Eat Asia as a potential market for expansion of production.