Aquaculture Growth To Be Greater Than Previously Estimated

A joint report between the Food and Agriculture Organization of the United Nations (FAO) and the Organization for Economic Cooperation and Development had originally predicted that worldwide aquaculture was expected to grow by 2.54% annually. Now, FAO is revising that prediction, and estimating growth in the aquaculture sector to increase by ~4.14% annually until 2022.

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Although an ancient practice, aquaculture has been steadily growing as a commercial venture since the 1950’s. This year, consumption of farmed fish was greater than captured fish, a trend expected to continue in the future.

Experts justify the predicted growth by explaining that commercial aquaculture is a relatively young industry, when compared to others like agriculture. Since much of the aquaculture production last year came from developing nations, there remains much room within the industry for expansion. Recent investment increases in the industry have focused on productivity-enhancing areas, including breeding, hatcheries, and new feed compositions.

Impacts that increased worldwide aquaculture will have on the price of products is not yet known, with estimates by researchers predicting change in both directions.

Sources:

http://www.fao.org/fishery/topic/13540/en

“FAO: Future Aquaculture Growth To Be Greater Than Expected.” Undercurrent News. November 17, 2014. Web. November 2014.