Member Update

Geraldton Fishermen's Cooperative's online meetings allow Members to engage with their management team regularly. A summary of the most recent meeting is provided below.

Cooperative Update from Matt Rutter and Leith Teakle;

• Matt spoke about the GFC board meeting that took place last week. Each year, at the first board meeting after an AGM, the Board votes in the Chair and Vice-Chair. Matt was pleased to advice that Basil Lenzo and Kris Carlberg have been voted back in as Chair and Vice-Chair respectively. 
• The Board also signed off on the updated strategic plan.
• A draft decarbonisation strategy which included an updated greenhouse gas emissions study was also presented to the Board. Matt explained to Members the decarbonisation strategy was a roadmap to carbon neutral. GFC has engaged a specialist consultancy firm which will report and advise the Board in early 2024.
• Matt shared with Members that the Board also agreed to appoint Leith Teakle as interim CEO to ensure consistent leadership at your co-operative ahead of Marc Anderson's start date in March 2024.
• Leith spoke about his role as interim CEO after Matt's departure and his plans to keep the ship steady, support the business and assist incoming CEO, Marc Anderson's familiarisation with GFC. Leith stated that having the strategy signed off by the Board will give him, the Executive Team and the incoming CEO, Marc Anderson a clear roadmap for the future.

Member Services Update from Leith Teakle;

• Leith advised Members that GFC will be closed for intake on Christmas Day, Boxing Day and New Year's Day. Depots will be available for bait collection from 9am to 12pm only on Boxing Day and New Year's Day (excluding Dongara where bait will be collected by prior arrangement).

Market Update from Bryan Keay;

• Bryan shared a catch update with viewers; 36% of the intake has been caught which, is approximately 10% ahead of the pre-COVID pace. At the start of December GFC received the highest rate of intake over a 7-day period in recent history.
• Bryan spoke about Australian and US foreign exchange fluctuations which has put some downward pressure on beach prices. Live demand around the holiday period has been similar to 2022, but due to the recent drop in intake, it is likely beach prices will rally for a short period. 
• Bryan spoke about the frozen sales program which has been progressing well and because of this, he believes the beach price forecasts previously provided to Members are unchanged. 
• Bryan gave an update to Members regarding China market access.

The next Member online meeting is scheduled for Friday, the 5th of January, at 4 p.m. The meeting link will be sent to Members via email before the meeting.

Australian Government Release 2022 Fishing Industry Statistics

The Department of Agriculture, Fisheries and Forestry has released the latest fisheries and aquaculture economic data for 2022.

The comprehensive report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) details our national fisheries production, trade data, consumption and employment statistics. Some key findings in the report include;

• The fisheries industry total Gross Value Production (GVP) was up 8% to the previous year to $3.42b. The growth is mainly attributable to the aquaculture sector which now exceeds the value of wild-catch fisheries.
• Western Australia continues to be a significant contributor to the nation's fisheries with around $414m (GVP)
• In 2021-2022, the average Australian consumed just over 13 kg of seafood.

Click on the infographic below from ABARES to see the full report.

Certificate of Origin Labelling for Seafood to Begin in 2025.

Australia’s restaurants, cafes, and hotels will have to identify the origin of seafood served after federal, state and territory consumer ministers voted to make the labelling of seafood more transparent. State Governments have unanimously voted to support the implementation of mandatory Country of Origin Labelling (CoOL) for seafood in hospitality settings, a requirement that has been in place in retail environments for several years.

Due for implementation in 2025, CoOL will give consumers dining in Aussie cafes, restaurants, and other food service areas clear and transparent information about the origin of seafood. 

The provenance of GFC's products is an important consideration and determinant of value for our buyers and their customers. We welcome this change that will allow consumers to make a fair and proper comparison of imported products compared to our own.  

Read more about the changes here.

Sultan Way Walk-through Tour and December Member Activities.

December is a busy month, not just for the fishery and the associated operational activity, but we had three big Member social get-togethers.

Earlier this month around 30 Members joined GFC staff to take a walk-through of the recently finished Sultan Way processing facility in Fremantle. Members got to tour the facility and see first-hand the upgraded production machinery and processing lines in action. Not even a small ribbon cutting ceremony could stop a busy production team from their duties ahead of the Christmas rush!

Following the tour of Sultan Way, around 50 Members and staff enjoyed sundowners and a chance to thank outgoing CEO, Matt Rutter at the Left Bank, in Fremantle. 

Last week, it was Geraldton's turn, with a pre-Christmas Member catch up and farewell drinks for Matt at The Old Man & The Sea Rooftop bar.

Many thanks to our Members and their families that attended these catchups.