Tasmanian Seafood Exports Surge to $979 Million, Driven by Resurgent China Trade

Strategic Insights -

Tasmania's seafood exports have seen a significant surge in 2024-25, driven by a resurgent trade with China, according to a new report from Bendigo Bank. The value of Tasmanian seafood exports increased by $147.7 million, reaching $979.3 million, a 9.3% increase from the previous year. This growth comes despite controversy surrounding salmon farming, including mass fish kills and potential industry expansion into Bass Strait.

Key Takeaways:

  • The value of Tasmanian seafood exports increased by $147.7 million in 2024-25, reaching $979.3 million.
  • The growth was primarily driven by resurgent seafood exports to China, with a rise in exports across dairy and sheep sectors also contributing to the overall export picture.
  • Dairy export sales growth reached $47.4 million, and sheep meat export sales growth reached $31.1 million.
  • Salmon Tasmania CEO John Whittington stated that consumer demand for Tasmanian salmon is continuing to grow, with a 9% increase in sales across Australia and a 10% jump in global sales compared to the same time last year.
  • Sasmanian salmon is considered the best in the world, with the best place to grow it, combined with the best science and regulation to underpin it.
  • Seafood accounted for more than 46% of Tasmanian food and beverage exports, valued at almost $440 million annually, supporting thousands of Tasmanian jobs and keeping the economy strong.
  • State Treasury analysis of ABS figures showed the value of Tasmanian seafood exports surged by 50.5% to $438 million in the year to July.

Statistics:

  • The value of Tasmanian seafood exports increased by $147.7 million in 2024-25.
  • The growth rate was 9.3% over the previous year, reaching $979.3 million.
  • Dairy export sales growth reached $47.4 million.
  • Sheep meat export sales growth reached $31.1 million.
  • Consumer demand for Tasmanian salmon grew by 9% in Australia and 10% globally compared to the same time last year.
  • Seafood accounted for 46.2% of Tasmanian food and beverage exports, valued at $439.8 million annually.
  • State Treasury analysis of ABS figures showed a 50.5% increase in the value of Tasmanian seafood exports, reaching $438 million in the year to July.

Sources:

  • Bendigo Bank Agribusiness Australian Agricultural Exports Report
  • Australian Bureau of Statistics