Australian waters contain over 150 fisheries, most of which target high-value species such as lobsters, prawns, abalone and tuna. Many fisheries operate on a multi-species basis. The most valuable Australian fisheries include the Western Rock lobster, Northern Prawn, Southern Bluefin Tuna and South East fisheries. Australia is now developing a significant deepwater trawl capacity for Patagonian toothfish in the Southern Oceans and a high seas longline capacity on the west and east coasts, targeting high quality tuna and swordfishes. Aquaculture Aquaculture is the farming of fish and other aquatic animals and plants in marine and freshwater environments.
Aquaculture is now one of Australia's fastest growing rural industries.
Currently more than 60 species are being farmed including pearl oyster, pacific and Sydney rock oysters, mussels, prawns, freshwater crayfish, native fish, salmon, tuna, eels, crocodiles, and algae. Aquaculture commenced in Australia in the late 1800s, however modern aquaculture in Australia really started in the late 1960s. The value of the industry has increased markedly over the years and this trend is likely to continue with significant investment in research to develop culture technology for new species. Hong Kong, Chinese Taipei, China and the United States are other important markets. From this process, fisheries managers decide how much fish can be caught and which fishing methods can be used in order to manage Australia's fisheries in a sustainable way.