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Strong economic outlook for Western Rock Lobster Industry

Confidence in the economic future of Australia’s most valuable and sustainable fishery is high, with 72 per cent of fishers and stakeholders in the Western Rock Lobster industry predicting a strong economic outlook for the year ahead.

The industry, which contributed more than $505 million to Western Australia’s economy in 2017, has adopted an ambitious Gross Value of Production target of $1 billion by 2028.

Western Rock Lobster Council Chairman Kim Colero said a recent survey of fishers and industry stakeholders confirmed the industry was committed to ensuring sustainable growth.

“Our industry makes a significant economic contribution to Western Australia and supports more than 2,400 direct and indirect jobs,” Mr Colero said.

“We are looking to the future and are confident in our ability to become a $1 billion industry within the next decade.

“Our fishery is managed using evidence-based, scientific research and modern technology to ensure it remains valuable and sustainable for generations to come.”

“Its economic contribution is comparable to other primary industries in Western Australia including sheep meat and wool and we are a market leader contributing almost 60 per cent of Australia’s lobster exports.”

More than 25 per cent of eligible industry stakeholders contributed to the inaugural survey which also provided feedback on membership satisfaction, the current management of corporate affairs, communications and governance, and future priorities of the western rock lobster industry.

“We are very pleased that our fishers and stakeholders are directly contributing to the future direction of our industry,” Mr Colero said.

“It is also pleasing to note the survey found a confidence rating of 71 per cent in the Western Rock Lobster Council to proactively manage industry risk, reputation and development.

“The Council is committed to ensuring our fishery remains a global leader in sustainable fisheries management and our fishers have access to the best research available.”

The Western Rock Lobster fishery was the first fishery in the world to be certified as ecologically sustainable by the Marine Stewardship Council, recognising the high environmental values and sustainable practices of industry members.

“Three quarters of survey respondents rated the establishment of the Total Allowable Commercial Catch Committee as the most important initiative undertaken by the Council in the past 12 months,” Mr Colero said.

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All media enquiries to: Clare Robinson, Clare@westernrocklobster.org (08) 9432 7709

Posted in General, Industry News, WRL News