By Catherine Norwood @ frdc.com.au
The Australian seaweed sector could grow to be worth $1.5 billion by 2040, employing 9000 people and helping to reduce Australia’s greenhouse gas emissions by 10 per cent, according to the recently released Australian Seaweed Industry Blueprint.
The blueprint, released by AgriFutures Australia in September 2020, identifies research and regulatory priorities that need to be addressed if the industry is to reach its production potential. AgriFutures Australia and the FRDC have invested in seaweed-related research and development for more than a decade.
Lead author Jo Kelly, CEO of the Australian Seaweed Institute, says there have been no commercial-scale seaweed ocean farms established in Australia to date, and there is no industry development plan. However, rapid change is on the horizon.
One opportunity highlighted in the blueprint is the potential to farm Asparagopsis, a native seaweed found off the Australian coast. Meat & Livestock Australia funded recent research by James Cook University and CSIRO which shows that adding a small amount of this seaweed to cattle feed can reduce the cattle’s methane emissions to almost zero. This is significant, given around 10 per cent of greenhouse gas emissions in Australia come from the digestion process of cattle, and seaweed could potentially eliminate this.
Recent media coverage has revealed major investors such as Andrew Forrest, Woolworths and GrainCorp have invested in FutureFeed, a company established by CSIRO to commercialise Asparagopsis as a feed additive.
“This single use for seaweed is incredibly exciting but it is just the tip of the iceberg,” says Jo Kelly.
“Research into bioproducts from native Australian seaweed species has potential to contribute to global health and nutrition while adding significant value to the Australian economy. Seaweed offers a huge opportunity for Australia’s blue economy development.”