Prawn farming next big sector for Australia

Farmed salmon production is booming in Australia, and prawn farming is the next big sector to watch out for, according to a recent report from agribusiness research firm Rabobank International, “Smooth Sailing for the Australian Seafood Industry.”

A new initiative from Seafarms Group Ltd, a subsidiary of Commodities Group Ltd., “Project Sea Dragon,” aims to make Australia a much bigger player in the global shrimp farming industry.

Seafarms’ pre-feasibility work on the project has focused on the initial development of 10,000 hectares of grow-out ponds, producing more than 100,000 metric tons of black tiger prawns annually. The company has already assembled a land bank for the project.