In 2010, global
production of farmed food fish was ~60 million tonnes. The production from
aquaculture is almost entirely destined for human consumption. The total farm
gate value of food fish production from aquaculture is estimated at US$119.4
billion for 2010. Aquaculture represents the fastest growing protein-producing
system in the last three decades and also in the foreseeable future.
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| English: Barramundi perch (Lates calcarifer), piebald color morph (Photo credit: Wikipedia) |
It is expected that
aquaculture production will surpass 80 million tonnes by 2020, becoming the
third-largest protein industry behind poultry and pork, but well ahead of beef.
Salmon farming represents
a significant part of the high quality fish market at a forecast ~1.8M tonnes
pa in 2012, and rapidly growing. Salmon farming has a number of industry
giants with many now investing in other aquaculture sectors.
The primary motivation
for salmon farmers to invest in other aquaculture ventures is to leverage their
knowledge of fish husbandry and achieve synergy in feed procurement, in
marketing and distribution activities and to achieve species diversification in
order to mitigate the effects of the salmon price fluctuation cycle.
We get our terrestrially
grown meat products primarily from 4 sources; chicken, beef, pork, and
lamb. The same will likely be true from farmed fish. With salmon as
the clear #1, it is unclear what will be #2.
Barramundi is a good
candidate having many of the key drivers that made salmon successful: lends
itself well to domestication, good growth, survival, density, FCR, omega 3
fatty acid levels, eating qualities, etc. Barramundi also performs well
on diets with high levels of fishmeal and fish oil substitution. Combine
these attributes with an ideal geography in Australasia (protection from severe
storms) and a growing middle class market throughout Asia…a potential recipe
for the “next salmon”?
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