Capturing the Prize: the A$200 billion opportunity for Australia's food and agribusiness sector/ Food Security and Sustainability / Sustainable fisheries
Opportunities associated with identifying and improving sustainable and circular economy production techniques for aquaculture, wild fisheries and bivalves.
Australian Bay Lobster Producers Limited (ABLP) produce a slipper lobster species known in Australia as Moreton Bay Bugs. Operating north of Byron Bay on repurposed cane land, it is at the forefront of biotechnology in aquaculture. It also collaborates with progressive Australian wild catch fisheries, bringing the same high level of quality control that far exceeds traditional aqua farming.
Seeking to overcome the depletion of natural fishery resources through innovation, its sustainably farmed lobsters will be supplied to domestic and international markets all year round.
The company has grown significantly over 25 years and employ over 50 staff. It is an organisation that believes strongly in research and has developed multiple collaborative relationships with Australia’s top universities and research agencies to unlock the future potential of this aquaculture industry.
Extensive research and development, including collaboration with University of New South Wales and Griffith University, helped create the high-value lobster product. FIAL has been a close supporter of ABLP, culminating in the global commercialisation of the proprietary process for breeding and producing Bay Lobster. FIAL and ABLP will continue to collaborate together into the future to further develop the industry and ensure the insights are maximised for the ABLP and the wider industry.
Further funding has enabled ABLP to start developing suitable feed alternatives to wild-caught seafood. Although it uses sustainably farmed seafood and not wild-caught in its processes, it seeks to replace or at least supplement the use of wild-caught seafood in aquaculture processes.
This case study is from FIAL's 2022 edition of Celebrating Australian Food and Agribusiness Innovations 2022