The largest Barramundi hatchery in the world was officially opened yesterday in Werribee by Minister for Agriculture and Food Security Peter Walsh.
According to the media release issued by The Premier of Victoria, the Barramundi hatchery will supply almost half the annual global industry requirement for feed stock.
The Barramundi hatchery is considered an example of innovative Victorian business supported by participation in the Super Trade Missions of the Victorian Coalition.
“The hatchery is expected to generate annual revenue in excess of $2 million, employ four full time staff and underpin Mainstream Aquaculture’s ongoing expansion,” said Minister Walsh.
“This will help the business meet increasing global demand for Victorian Barramundi seed stock. Exports make up an important part of Mainstream Aquaculture’s business with fish exported to 14 countries across four continents.”
Mainstream Aquaculture took part in this year’s trade missions to South East Asia and the Middle East. Following the discussions with government figures and industry leaders, Mainstream Aquaculture is set to supply fingerlings for annual revenue of about $ 250,000 to a Barramundi farm in Singapore.
Further, negotatiations are underway with a Barramundi producer from the Middle East. If an agreement is reached, it will generate additional $250,000 in annual revenue.
The first delivery is set for February 2014.
“These deals show how valuable the Coalition Government’s trade missions are for Victorian agricultural businesses who want to expand, by creating and fostering relationships with key export markets they might not otherwise have been able to access,” said Minister Walsh.
“The Coalition Government’s $50 million International Engagement Strategy is helping Victorian food and beverage businesses to capture global export opportunities, in order to create local jobs and boost the state’s economy.”
Founded in 2001, Mainstream Aquaculture is on its way to become the world’s leading provider of recirculating aquaculture food fish products.
“Mainstream Aquaculture now operates the largest recirculating aquaculture business in mainland Australia and is a top 10 domestic producer of Barramundi,” said Managing Director and CEO Boris Musa.
“Through over a decade of research and development we have created and refined proprietary technology that is unique in enabling continuous, high quality, sustainable and efficient production of Barramundi.”