The NSW Farmers Oyster committee's bid for NSW Government support for investment in the industry is now a reality with the establishment of the Seafood Innovation Fund.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The Minister for Agriculture, Adam Marshall, opened the fund last week, enabling oyster farmers to access low interest loans of up to $500,000 to purchase modern equipment and make business improvements.
NSW Farmers Oyster committee chair Caroline Henry welcomed the news, saying farmers could now invest in modern technology, equipment and systems to improve the productivity and profitability of their business.
"The [committee] has been working tirelessly with the State Government to ensure this fund was developed and made available for all oyster farmers," she said.
"Oyster farming is the most valuable aquaculture industry in NSW with annual production of over 106 million oysters worth of $35 million.
"There is great potential for further growth and farmers now have more confidence to invest in their farms.
"Investment in the oyster industry is also an investment in water quality, the environment and jobs for rural communities on the coast."
Applications for the Seafood Innovation Fund can be made through the NSW Rural Assistance Authority: www.raa.nsw.gov.au
