15 March 2012: The Secretariat of the Pacific Community (SPC) has released a report on marine aquaculture (mariculture) titled “Opportunities for the Development of the Pacific Islands Mariculture Sector.” The report comprises assessments of mariculture activities in five Pacific Island countries (PICs), namely Papua New Guinea, Solomon Islands, Fiji, the Cook Islands and the Marshall Islands.

The report assesses the role of mariculture in: contributing to livelihoods and food security; substituting import; and increasing export earnings. The report describes mariculture as a “risky activity” and notes that many mariculture projects have been initiated without adequate economic assessment, particularly in relation to the costs involved and the potential markets for mariculture products.

Potential difficulties highlighted in the report include expensive feed, long cropping cycles, competitive markets, expensive transportation and products requiring high labor inputs. The report recommended thorough market appraisals of proposed new ventures, as well as estimates of production, distribution and marketing costs. The report further underscores that although the region is best known for pearl farming, seaweed, shrimp, coral, sponges and some types of fish are among mariculture activities that have the potential to be successful under the right conditions. [SPC Press Release] [Publication: Opportunities for the Development of the Pacific Islands Mariculture Sector]