Industry: Aquaculture (Aquatic Worms)
Gross value of production |
$0.31 m |
Number of growers |
1 |
Number employed |
6 |
Current annual production |
15 tonne |
Projected 5 year annual production |
20 tonne |
1. Description of Product:
Aquatic worms are cultivated for aquarium pet trade industry and zoos.
Species cultivated are:
Lombriculus variegatious - Blackworm (sold live)
Tubifex tubifex - Redworm (sold frozen).
2. Location of the Industry:
One enterprise only in Australia situated in this region at Beechworth. The technology to grow these worms has been developed and is unique to this one grower.
3. Employment and Labour Requirements:
a. Number of Producers:
1
b. Number Regularly Employed:
6 full time
4. Annual Production:
10.5 tonnes live blackworms.
4-5 tonnes frozen red worms.
5. Value of Product:
Blackworms are sold for $25/kg to wholesalers.
Redworms are sold for $10/kg to wholesale market.
Wholesalers then sell blackworms for $50/kg to retailers, and retailers are able to market worms for $2.50/10g ie. $250/kg.
However the gross value of production to the grower is $312,500.
6. Production Trends Over the Next Five Years:
a. Projected:
This grower could expand operations 20-25% and satisfy Australian domestic market demand, and would anticipate accomplishing that within the next 5 years. Further expansion depends on the development of export markets.
b. Potential:
1. The technology for this industry has been developed by the owner operator and is unique to Australia. This is a distinct advantage in terms of domestic market demand and in view of extensive export markets.
2. Export markets exist wherever there is a well developed aquatic industry. eg. Japan, Germany, Malaysia, USA.
3. There is off shore interest in establishing this industry as a joint business venture for international marketing.
4. There is potential for aquaculture development for the use of treated urban waste water. Research is currently being undertaken within this region.
Extracted from the Bright Report
