Growth opportunities for marine fisheries and aquaculture industries in a changing climate
Climate change is impacting the oceans around Australia with significant warming of ocean temperatures, observed on both the east and west coasts. The response of wild fisheries and aquaculture sectors to climate change is an area of active investigation; however, the species and environment have received most attention. Supply chains are representations of the range of activities involved from the point of conception of a product, through different production phases, to final consumption. To guide performance improvements that might lead to increased growth, supply chains were examined using life cycle assessment (LCA). Standard economic theory predicts that as supply falls, prices will increase. Growth and profitability of seafood sectors can be enhanced if shocks to the production system are reduced. Economic analyses showed the influence of market factors on the price and profit adaptation options for selected sectors.