Australian fishers are calling on domestic consumers to embrace wild-caught tiger prawns. The season in the Gulf of Carpentaria, northern Queensland, has begun sluggishly, with catches down and the industry grappling with challenging global market conditions. Austral Fisheries, a major player in Australia’s commercial fishing sector, finds itself struggling with an oversupply that has driven international prices lower than anticipated.

Local Solutions to Global Problems

Bryan Van Wyck, Northern Prawn Division Operations Manager at Austral Fisheries, reveals that the company is shifting focus from overseas markets to boost domestic sales. “I think Australian seafood should really be in Australia for Australians to enjoy,” he asserts. The company, traditionally a supplier of banana prawns to the domestic market, is now seeking to increase the presence of tiger prawns at home. Van Wyck envisions these prawns as a luxurious option for special occasions, particularly during the festive season.

Tiger prawns, known for their premium quality, have long been a favourite among seafood enthusiasts. At Cairns’ Ocean World Seafood Market, owned by Peter Adams, they are a top seller, with up to 300 kilograms sold weekly. Adams highlights the preference of his clientele for wild-caught tiger prawns over farmed varieties, attributing their appeal to superior taste and quality. Despite a minor drop in supply this year, Adams reports no issues with stocking his shelves, noting a consistent demand that even appears to be increasing further south.

Economic Pressures and Price Drops

The shrimp industry faces significant economic pressures, with export prices for tiger prawns having decreased by approximately 20% from last year. Some grades have experienced price reductions of up to 30%. The Fisheries Research and Development Corporation (FRDC) indicates a drop in the average export price from AUD 36.68 (USD 24.45) per kilo to AUD 28.41 (USD 18.94) per kilo in 2024. The influx of farmed prawns on the global market has intensified competition, pushing prices down and eroding the historically high value of wild-caught tiger prawns.

Van Wyck notes that traditional markets in Asia are no longer willing to pay premium prices, compelling Australian fishers to increase catch volumes to maintain profitability. Rising fuel costs, exacerbated by the suspension of Sea Swift motherships in 2023, have further strained the industry. Data from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) forecasts a 3% decline in the value of Australian prawns, with the export volume expected to fall from 4,464 tonnes in 2022-23 to 4,128 tonnes in 2023-24.