This project involves a comprehensive review and enhancement of valuation methodologies for production statistics in the commercial fisheries and aquaculture sectors. Phase One focuses on comparing existing approaches from various publications, evaluating their strengths and weaknesses, and recommending the most suitable methodologies for future reporting. The recommendations must be realistic given the practical constraints and opportunities in different jurisdictions, which the study captures through document review and interviews with jurisdictional representatives. Phase One concludes in a detailed report summarising the findings and recommendations.

Phase Two, contingent on FRDC's decision to proceed, involves producing detailed production statistics for the 2021/22 to 2023/24 period. This includes gathering and compiling data from eight jurisdictional management agencies, ensuring data quality and consistency (identifying gaps where this is not met), documenting sources and methodologies, and presenting the data in a clear, machine-readable format. The data will be disaggregated by sector, state, and species (where possible) (including those covered in FRDC’s Industry Partnership Agreements), providing a comprehensive overview of the commercial fisheries and aquaculture sectors.