Fiji currently imports close to 700 tonnes of shrimp annually which has an estimated value of $24 million.

This was revealed by the Minister for Fisheries Semi Koroilavesau while officiating at the opening of the inaugural Fiji Conference on the Cultivation of Penaeid Prawns at the Galoa Aquaculture Station in Serua.

Koroilavesau says aquaculture was a growing sector in Fiji and had the potential to develop as one of the key areas in the fisheries sector if thoroughly explored and effectively capitalized upon.

He says one of Fiji’s biggest challenges is to reduce the import bill by promoting locally grown prawns and other viable cultured fish to achieve import substitution.

Koroilavesau says while aquaculture is a key sector for food security, it also contributes to improving livelihoods and boosting fishery exports and reducing imports.

He says aquaculture also enables resource conservation as it relieves pressure on over exploited inshore captured fisheries resources and can assist in helping over fished areas recover.

The Minister says while they welcomed potential foreign investors to help prawn or shrimp farming grow, locals were also encouraged to join the viable industry.