Sector booms as Asians happy to shell out for abalone
Original article by Sue Neales, Reporter – Rural/Regional Affairs
The Australian – 21-Jan-2019
Farmed abalone is becoming a key player in Australia’s booming $1.5 billion seafood export industry. Abalone is now Australia’s second-largest seafood export with a quarter of 4000 tonnes overseas each year, worth $170 million produced on farms in Victoria, South Australia and Tasmania.
Co-founded by Tim Rudge, privately owned Yumbah Aquaculture has two major core shareholders – medical imaging Pro-Medicus owner Anthony Hall and Jonathan and James Lillie of Fox & Lillie. To meet orders, Yumbah grows 70 per cent of Australia’s farmed abalone and 17 per cent of all abalone exports but the company is looking to expand with the proposal of a new farm, ‘Nyamat’ to be built in Portland.
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