South Australian Seafood ScoreCard Overview 2013-14

SOUTH AUSTRALIAN SEAFOOD SCORECARD OVERVIEW 2013-142

South Australian Seafood Scorecard Overview 2013-14© Government of South Australia 2014

DISCLAIMER

PIRSA and its employees do not warrant or make any representation regarding the use, or results of the use, of the information contained herein as regards to its correctness, accuracy, reliability and currency or otherwise. PIRSA and its employees expressly disclaim all liability or responsibility to any person using the information or advice.

ALL ENQUIRIES

Jack LangbergPrimary Industries and Regions SA (PIRSA)Level 15, 25 Grenfell StreetGPO Box 1671, Adelaide SA 5001T 08 8204 9571E [email protected] WelfarePrimary Industries and Regions SA (PIRSA)Level 15, 25 Grenfell StreetGPO Box 1671, Adelaide SA 5001T 08 8226 0327E [email protected]

SOUTH AUSTRALIAN SEAFOOD SCORECARD OVERVIEW 2013-14 3

CONTENTS

1. INTRODUCTION 4

2. PRODUCTION VALUE 5

3. OVERSEAS SEAFOOD FINISHED FOOD EXPORTS 6

4. NET INTERSTATE EXPORTS 7

5. SEAFOOD CONSUMPTION 8

6. CONCLUSION 8

7. GLOSSARY OF TERMS 9


1. INTRODUCTION

Primary Industries and Regions SA (PIRSA) conduct detailed value chain analyses for the food and wine sectors. This information is used to create a series of annual South Australian Food and Wine ScoreCards, which measures revenue generated by industry sectors. The ScoreCard measures all of the value adding components of revenue – in the case of seafood, measuring how the value of seafood increases from the ‘wharf to the plate’. This involves looking at each stage of the value chain from production to final consumption in South Australia. From this economic analysis, the value of the following indicators are used; farmgate production; exports; imports; inter-state trade; retail sales; and hospitality sales1.

In 2013-14, the South Australian seafood industry contributed $818 million or five per cent of South Australia’s gross food and wine revenue. Figure 1 shows the value that the different levels of the value chain contributed to the seafood industry’s gross food revenue. The largest single contribution comes from other marine fish2, providing 19% or $158 million toward seafood revenue in 2013-14. This is followed by other large seafood sectors of southern rock lobster ($144 million or 18%); Southern Bluefin tuna ($124 million or 15%); and prawns ($103 million or 13%).

Figure 1: South Australian seafood 2013-14, summary - share of gross food revenue

1 The South Australian Food Industry ScoreCard calculates the value of food revenue as the sum of the value of overseas exports (free on board value), interstate exports (at wholesale prices), retail sales and food service sales.

2 Other Marine fish include wild catch species including snapper, whiting, garfish, shark, snook, Australian salmon, tommy ruff and mullet.

The South Australian seafood gross food revenue industry is highly export focused, with $238 million derived from overseas exports. Interstate exports valued at $118 million, retail sales at $238 million and hospitality $190 million make up the remainder of seafood gross food revenue.

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3 A measure of the value of a commodity at the local level of production – farmgate. Farm/wharf gate value is calculated by multiplying the volume of production by the price received and therefore represents the value of production to the farmer or fisher person. This measure can also be used as a benchmark for estimating the additions to the price of a product, and through this, its value, as it moves through the value chain from production to consumption.

2. PRODUCTION VALUE

Analysis of the Seafood industry shows that in 2013-14 the value of production in South Australia was $379 million (as measured in wharfgate prices3). This is a 3% decline from the 2012-13 figure and is mainly due to the 22% decline in the value of Southern Bluefin tuna production. Figure 2 shows a 12 year time series of farmgate values and shares for each of the major food producing industries of South Australia. Seafood contributed 8% of South Australia’s food and wine grape production value in 2013-14.

Figure 2: South Australian industry sector production, 2001-02 to 2013-14

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3. OVERSEAS SEAFOOD FINISHED FOOD EXPORTS

Finished Food value is measured at an intermediary level before a commodity is either traded or consumed. Finished food may be minimally or highly processed, with their value expressed in wholesale prices, to derive a turnover value. Examples of minimally transformed seafood may include seafood that is cleaned, gutted and filleted and packed for retail, whereas highly processed seafood may include live lobster exports, canned abalone and tuna (defined here as other tuna) and smoked seafood.

Total seafood finished food exports from South Australia were $238 million in 2013-14. This is a $29 million (or 11%) decline due mainly to the decrease in Southern Bluefin tuna prices. The decline was mitigated by the increase in lobster, oyster and prawn exports.

Figure 4 shows the value and share of the major seafood overseas exports from South Australia over 2013-14. Southern Bluefin tuna exports valued at $122 million comprised 51% of all seafood exports. In 2013-14, over 7 450 tonnes of tuna were produced in the tuna farms in and around Port Lincoln. Virtually all tuna production was exported. While Japan accounted for approximately 97 per cent of South Australian tuna exports, other small markets included Germany, Korea, China and Singapore.

Other seafood products exported included lobster (worth $81 million); abalone ($25 million), and oysters ($5 million).

Figure 3 below graphically illustrates the changes in the production value of seafood from $480 million in 2000-01 to $379 million in 2013-14. The decline has been mainly in aquaculture due to the decline in the price of Southern Bluefin tuna.

Figure 3: Value of South Australia’s seafood production, 2000-01 to 2013-14

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Figure 4: South Australia’s seafood finished food exports, 2013-14 value.

4. NET INTERSTATE EXPORTS Interstate trade provided a net return of around $118 million. Table 1 below shows the key South Australian seafood products (by value) traded interstate.

Table 1: Value and share of net interstate trade of seafood

Species Net Interstate Trade $ Million

Oysters 53

Other Aquaculture 22

Lobster 18

Abalone 11

Fresh Fin Fish 7

Other 7

Total 118

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5. SEAFOOD CONSUMPTION

The South Australian consumption of seafood contributed $463 million to seafood gross food revenue. The retail sector comprised the majority of seafood consumption value $273 million with food service sales estimated to be worth $190 million. Seafood based products comprised around 5% of total South Australian food consumption.

6. CONCLUSION

In the seafood industry, the lobster sector was a strong performer, with a 17% revenue gain. Southern Bluefin tuna and oysters did not reach the values of the previous year despite experiencing an increase in the volume exported in both species, while abalone exports saw a decline in both volume and value. The recent depreciation seen in the value of the Australian dollar will assist in making the South Australian seafood industry become more competitive in overseas markets.


7. GLOSSARY OF TERMS

Farm/wharf gate

This measures the value of a commodity at the local level of production, which is known as farm/ wharf gate. Farm/ wharf gate value is calculated by multiplying the volume of production by the price received. This represents the value of production to the farmer or fisher person.

Finished Food Value (measured in wholesale prices)

This measures finished food – the value of foods and beverages that are processed at their highest level of processing in South Australia. Finished foods may be minimally or highly processed and the value is represented by their wholesale price into the retail or export markets.

Food Retail Sales

Food Retail Sales measures the value of food sales made through all retail stores including supermarkets and grocery stores, takeaway food, meat, fish, poultry, fruit and vegetable retailing, liquor retailing, bread and cake, and specialist food retailing.

Food Service Sales

Food Service Sales measures the value of sales of food and beverages through restaurants, hotels, and tourism operations within South Australia. The calculation estimates the percentage of total sales that occur through these outlets. Prices used in this calculation are usually higher than those used at the retail level.

Free on Board (FOB)

Free On Board (FOB) is the price of a commodity or product received by a supplier, including all costs incurred in getting the commodity or product to the port of departure, at which point the buyer takes responsibility of the costs.

Gross Revenue

An aggregate measure of revenue that includes international and interstate food and beverage exports and the value of food and beverage retail and service sales contributing to the South Australian economy. It is calculated by taking the sum of overseas export value (commodity and processed), interstate trade value (commodity and processed), food retail sales and food service sales. Gross revenue can be used in reference to food, wine or food and wine combined.

Interstate Sales – Commodity and finished food

This represents the difference in the value of goods exported interstate from those imported from interstate. A positive value represents net interstate exports – for example exports exceed imports. A negative value represents net interstate imports – for instance, imports exceed exports.


Overseas Commodity Exports

This measures the value of overseas exports of agricultural commodities sold overseas by South Australian firms, calculated by using free on board prices. Commodity exports are products that have a minimal change from their natural form – for example, live animals or bulk grain.

Overseas Imports – Commodity or finished food

This measures the value of either agriculture commodities or finished food products that are purchased from overseas. Import volumes and values are quantified at their South Australian landed value (at the port of shipment).

Overseas Finished Food and Wine Exports

This measures the value of overseas exports of food and wine products sold overseas by South Australian firms, calculated by using free on board prices. Finished food and wine exports are commodities that have had further value added from the point of production. For example, meat, wine, packed fruit and vegetable or fish.

Value Chain Measures

Value Chain Measures include all measures or indicators that are used along the value chain from the farmgate through the chain to the final point of sale.

South Australian Seafood Scorecard Overview 2013-14© Government of South Australia 2014

Primary Industries and Regions South AustraliaLevel 14, Grenfell Centre25 Grenfell StreetAdelaide 5000South AustraliaT: +61 8 8226 0900www.pir.sa.gov.au

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