Aquaculture

Mr TRELOAR (Flinders) (14:10): My question is for the Minister for Primary Industries and Regional Development. My question is this: can the minister update the house on how the aquaculture industry is delivering jobs in the electorate of Flinders?

The Hon. D.K.B. BASHAM (Finniss—Minister for Primary Industries and Regional Development) (14:11): I thank the member for Flinders for his important question. He certainly knows how important Eyre Peninsula is in relation to aquaculture and fisheries generally. It is such a beautiful part of the world, has a pristine environment there and is a wonderful place for us to invest in aquaculture.

We have seen the highly successful tuna industry established there as an aquaculture industry, and to transition from a fishing sector into aquaculture has made that sector sustainable long term. We also see the wonderful oyster industry that operates over on the West Coast. The Coffin Bay oysters, known worldwide for how wonderful they are, are based on that beautiful coastline of the West Coast.

Aquaculture in South Australia supports thousands of jobs, and 70 per cent of those jobs are within the regions. The latest report into the economic contribution of aquaculture shows that the value of the South Australian aquaculture industry has grown to $229 million in the 2019-20 year. This sector is such an important part of our economy. It has 2,500 direct and indirect jobs out of this sector, an increase of about 5 per cent on the previous financial year that we have seen growth in those job numbers. This is despite the COVID-19 impacts.

This is such an amazing, vibrant sector in what they are able to achieve. The Marshall Liberal government is proudly supporting the projects with big growth opportunities in this sector. One of the really exciting places where we are seeing investment and growth going forward is the seaweed industry. The seaweed industry is something that is very much in its infancy in Australia, but it has huge potential. South Australia has an amazing opportunity in this space.

We have ideal conditions for seaweed to be grown, with the gulfs being a protected environment. We have one variety of seaweed—there are two different strains of that seaweed that grow naturally here in South Australia—that has amazing potential here for us to develop a new industry. This is an industry that will actually support the livestock sector. By feeding about 100 grams of this seaweed to an animal on a daily basis, we can see a 90 per cent reduction in methane gas emissions.

When you talk about methane gas being 28 times that of carbon dioxide contributing to the environment, it is such an important industry that we continue to see develop. This is a great opportunity for South Australia to be the leader in this space. The potential revenue from that would see another $250 million per year into the economy supporting another 1,200 jobs in South Australia's regional areas. The industry is a sustainable, high-tech and highly valued new economic opportunity. It is going to help us deliver for the Growth State $23 billion by 2030.

Seaweed has the potential to provide jobs in regional coastal areas and produce high-value products for the domestic and export markets not just in this space of livestock fodder but also in pharmaceuticals, as well as other great opportunities. Another great use for this seaweed is to mitigate Australia's carbon emissions.

We are certainly very happy to support and see this industry grow. We see great opportunities not only in the electorate of the member for Flinders but also all South Australian coastal waters will have a great opportunity to see further investment in aquaculture, which will see our regions grow.