COMPETITIVE CHALLENGES AND OPPORTUNITIES OF SEA FOOD INDUSTRY IN AUSTRALIA

Executive summary

This report highlights all the different aspects of the seafood industry in the nation of Australia. Not only has that in the progression of the report it also put light on performance of the industry in the country. Along with these the recommendations are also provided for better performance in upcoming years. The seafood industry of Australia is well maintained by various kinds of government interventions and various companies’ fruitful business. The seafood products are very popular for the people of Australia. Although the country has a large opportunity to develop the seafood industry, it has some loopholes by which the industry is affected. Proper infrastructural development, technical up gradation for capturing and harvesting seafood leads to minimize the challenges of the seafood industry in Australia.

Table of Contents

Introduction: 4

Findings about the Seafood industry in Australia: 4

Analysing of seafood industry in Australia: 5

Recommendation for developing the seafood industry: 6

Conclusion: 6

Reference List: 7

Introduction:

Australia is a country which is surrounded by sea. Various sea foods are popular in the market of Australia. Economically Australia is enriched very much by the seafood industry. Regional and international sea food suppliers supplies various seafood to the country. In this assignment the researcher elaborates the quality of seafood in Australia, therefore the researcher will analysis about the entire scenario of various challenges and opportunities regarding the seafood industry in Australia. Lastly, the researcher recommends some points which lead to development of the seafood industry of Australia.

Findings about the Seafood industry in Australia:

The seafood industry of Australia is enriching day by day as the consumers are becoming more attracted to have dishes made by sea food. Ala-Harja and Helo (2014) viewed that’ world population is also hiking by leaps and bounds day by day. Therefore, the demands of seafood are also hiking a lot. In the year of 2008, the country supplied seafood product almost with a value of $1.3 billion. 80 percent of the supplied product was the edible food product (Suddaby et al. 2015). It clearly states the demand of seafood through all over the world. Rest of the percentage was the non edible seafood products which also require making various products like oil or medicines. In the year of 2016, Australian Government imports almost 150kgs per capita seafood products from other countries. In that very year the consumption of seafood in Australia was almost 250kgs per capita. On that year domestic supply rate of seafood was almost 100kgs per capita. The demand of seafood consumption is getting higher and higher in Australia. Therefore, the country is doing various interventions for fulfilling the needs of their people.

Figure 2: Consumption, production and import of Seafood in Australia

(Source: data.daff.gov.au, 2016)

Australian people are keen to have to various sea foods. Citing examples, in the year of 2005, peoples of Sydney consumed seafood almost 13kgs per capita (Cocolin and Ercolini, 2015). The organisations are doing seafood business has done their growth in a certain manner. Li et al. (2014) viewed that, resources are the key factor for any kinds of industry. In this circumstances Australia has the capability of producing seafood and deliver them to the various countries due to their geographical advantage.

Analysing of seafood industry in Australia:

It has been seen that the consumption of seafood products in Australia are slightly in a decreasing rate. Therefore the revenue from the seafood industry is slowing down. The owners of various seafood organisation are making various promotional campaign to enhance their business in a certain manner. The organisations are investing their money to increase the awareness about seafood in the minds of the people. Kearns et al. (2016) viewed that, climate is another issue by which the production of seafood is getting slow. Water body temperature is getting higher which reflects to the decrease of coral reefs and other sea products. Analysing the seafood industry in Australia the researcher finds that crab export has been increased about 31%. Export on surimi and shrimps have increased about 10% nowadays. But as per the previous records the import and export rate of oyster has been decreased about 2 percent in recent times.

Figure 1: Production of Seafood in Australia

(Source: frdc.com.au, 2016)

Seafood is a healthy food for any human beings. Although the cost of seafood is generally high from other food products but it has a major impact on the food market of Australia. In the year of 2016, pelagic marine fish was harvested mostly in Australia as per the demand of the customers. Aquatic marine plants were harvested in a low rate rather than any kinds of marine fish. The price of seafood is generally predicted also to be high in the future but it has a large scale of opportunities in the business scale. Australian seafood industry maintains and develops various trade agreements with other countries. Therefore the industry has the opportunity to expand their trade throughout the world (Suddaby et al. 2015).

Lack of employees in various organisations under this industry is a barrier or challenge. It reduces to the growth of the business to a certain extent (Tilman and Clark 2014). Along with that employees of various organisations are not provided with adequate training and development programme by which the skills of them are decreasing. Quality of preserving various kinds of seafood is not up to the mark in this country. Therefore, the stocked fish are being rottener after a very short time. It leads to affect the export of the seafood to the various countries. Various government interventions also becoming the challenge for this industry as the organisations are facing difficulties to fulfil the regulation (Belasco, 2014).

Recommendation for developing the seafood industry:

Analyzing all the necessary factors regarding the seafood industry in Australia, the researcher of this assignment recommends some points which can develop the sustainability of the seafood business. The researcher recommends upgrading with the latest equipments and machineries by which seafood capturing and harvesting can be done more promptly. Employees of various organisations relating to this industry recommend to given proper training and development programme which can generate their knowledge about the various tools and techniques of work in the seafood industry. It will leads to the growth and development of this industry.

Conclusion:

The researcher of this report has done an appropriate analysing of seafood industry in Australia. The researcher finds that the seafood is very popular to the Australian people. As the country has natural resources to produce seafood, it has a large opportunity to develop the industry into the global market which will leads to the development of the country’s economy. In spite of having the basic and effective things within the country, the industry is facing with some challenges regarding technical issues, lack of efficient manpower etc. The researcher concludes that the recommendations like technological enhancements, training and development program are implemented properly then it can develop the condition of seafood industry in Australia.

Reference List:

Journals:

Ala-Harja, H. and Helo, P., 2014. Green supply chain decisions–Case-based performance analysis from the food industry.Transportation Research Part E: Logistics and Transportation Review,69, pp.97-107.

Cocolin, L. and Ercolini, D., 2015. Zooming into food-associated microbial consortia: a ‘cultural’evolution.Current Opinion in Food Science,2, pp.43-50.

Da Xu, L., He, W. and Li, S., 2014. Internet of things in industries: A survey.IEEE Transactions on industrial informatics,10(4), pp.2233-2243.

Kearns, C.E., Schmidt, L.A. and Glantz, S.A., 2016. Sugar industry and coronary heart disease research: a historical analysis of internal industry documents.JAMA internal medicine,176(11), pp.1680-1685.

Suddaby, R., Bruton, G.D. and Si, S.X., 2015. Entrepreneurship through a qualitative lens: Insights on the construction and/or discovery of entrepreneurial opportunity.Journal of Business Venturing,30(1), pp.1-10.

Tilman, D. and Clark, M., 2014. Global diets link environmental sustainability and human health.Nature,515(7528), pp.518-522.

Books:

Belasco, W.J., 2014.Appetite for change: How the counterculture took on the food industry. Cornell University Press.

Website:

frdc.com.au (2016) Australian Fisheries Statistics [Available from http://www.frdc.com.au/knowledge/publications/Pages/australian_fisheries_stats.aspx, Accessed on 17th August, 2017]

data.daff.gov.au (2016) Australian fisheries and aquaculture statistics 2015 [Available from http://data.daff.gov.au/data/warehouse/9aam/afstad9aamd003/2015/AustFishAquacStats_2015_v1.0.0.pdf, Accessed on 17th August, 2017]