The CLP Government hopes to make the crocodile industry a larger part of the NT economy. Photo: Northern Territory Government.
The Northern Territory Government is backing the crocodile industry, aiming for sustainable growth while boosting regional job creation.
A new report cited by the Finocchiaro CLP Government indicates that the crocodile industry will contribute $151 million to the Territory’s economy while supporting more than 300 jobs.
The Economic Value of the Northern Territory’s Crocodile Industry review, carried out alongside the Crocodile Farmers Association of the NT, identified three growth scenarios that could increase the industry’s contributions to the state’s economy from $176 million to $243 million in a decade.
“Crocodiles are an iconic feature of the Northern Territory’s landscape, culture and economy, with around 90 per cent of saltwater crocodile skins produced here in the NT,” Acting Chief Minister and Minister for Agriculture and Fisheries Gerard Maley said.
“Our crocodile industry is world-renowned, not just for the quality of its skins, but also for its innovation, research partnerships, and responsible farming practices.”
The report highlighted three potential pathways for growth:
- A stabilised pathway — With assumed steady demand and limited industry diversification, the industry could be worth $176 million in a decade.
- A medium-growth pathway — Centred on incremental expansion, a medium-growth strategy could grow the value to $215 million.
- A high-growth pathway — This would broaden markets, create new opportunities in Asian food and traditional medicine markets as well as domestic demand for meat, innovative branding plans, investment and new farm development. This bolder plan could lift the value to $243 million.
“From humble beginnings, the Territory’s crocodile industry has evolved, and will continue to grow, as a significant contributor to the NT economy,” Crocodile Farmers Association of the NT chairman Mick Burns said.
“We are proud to be globally recognised as a responsible and innovative industry, demonstrating world-best practices in sustainable farming.”
The three pathways, under the broader NT Government strategy, are part of boosting the Territory’s economy while also focusing on what the CLP administration has continually characterised as the NT lifestyle.
