Seafood CRC: national prawn market category planning
Due to oversupply issues and competition from imported product, the price paid to prawn farmers and fishers has declined in real terms in recent years. Collectively, and in response to these market pressures, the ACPF, APFA and QSMA have committed to plan a collaborative market development strategy to build demand for prawns in the domestic market. Increasing demand should ultimately improve the price paid for the Australian prawn product. This project will result in a deliverable national market development strategy. Funding to implement the strategy is anticipated to be through funding mechanisms deemed appropriate and agreed to by industry associations. Given the current market situation there is an incentive now for all prawn producers (both wild capture and farmers) to work together to clarify the most effective market development activities that such funding mechanisms could support.
1. Develop an implementable market plan to increase the value of the Australian prawn category on the domestic market either through higher retail prices or through higher volumes sold
2. ACPF and APFA agree to collaborative commitment to co-invest in implementing the plan to lift consumer demand for Australian prawns
3. To encourage investment in marketing by the prawn industry and to provide an informed basis for how to invest funds