2024 Forecast: Aquaculture is an economic ‘bright spot’ with growing demand
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Sebastian Belle, executive director of the Maine Aquaculture Association, says more people than ever are interested in joining the aquaculture industry.
Demand for Maine aquaculture products, like other Maine-sourced seafoods, has remained strong despite escalating prices that have caused a slump in other regions, says Sebastian Belle, executive director of the Maine Aquaculture Association.
“In Maine, we haven’t seen any impacts on the price point and, in fact, demand is stronger than ever for Maine product than it was couple of years ago,” Belle says. “I think that means the Maine brand really is worth something in the marketplace.”
There’s been steady growth in shellfish and seaweed farming and in value-added product development in the seaweed sector, and growing interest from commercial fishermen or their children who see aquaculture as a way to diversify their economic base and to hedge risks associated fishery limitations or climate change.
That’s seen in growing enrollment in the association’s “Aquaculture in Shared Waters” training program, which had over 100 students last year — triple the previous highest enrollment. Roughly 65% of the 350 students over the course’s two decades have started a farm. Based on demand, the association will offer a women-only course this winter. The course has a long waiting list — another indication of strong interest.
Backing that up, the Department of Marine Resources, the industry’s regulator, now has enough staff to more quickly work through a multi-year backlog of lease applications.
“We’re cautiously optimistic,” says Belle.
For 2024, “We feel that Maine’s aquaculture products, and seafood products in general, are in a pretty strong place in the market,” he continues. “I think that will continue.”
The industry’s growth over the past 20 years has been slow but steady at 2% to 2.5% per year — and possibly the only marine resource that’s growing at all, compared with other sectors that are flat or contracting.
“Aquaculture is really a bright spot,” says Belle.
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