Member Update

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

Update from Marc Anderson;

• Marc spoke about the busy catch and export period following the China live market re-opening, with a record amount of intake during this time. While the larger volumes did put pressure on GFC's supply chain and logistics, he noted our systems and people coped well with the increased workload. Marc thanked the supply chain, sales and export operations teams, in particular, for their additional efforts during this period.
• Marc mentioned the Marine Heat Wave declared in our state's north and its potential implications for some parts of the fishery, as currents are expected to bring the warmer sea temperatures further south. As more information becomes available, this will be shared with Members. Please see the separate article below.
• Marc shared with viewers that we had just completed our Department of Agriculture, Fisheries, and Forestry (DAFF) audit. The regular audits ensure a producer's compliance with the federal government's export protocols. A final audit report will be handed down shortly, but initial feedback to GFC was positive.
• Marc recently attended a Lobster market update from the Austrade team in China. Marc shared that since the market re-opening, there had been no significant issues with the clearance of Australian lobster shipments in various ports in China. Interesting market observations included the considerable presence of the Russian Crab, which is at a lower price point than Australian lobster and a substitute product that exporters will need to track closely. Other observations included the current economic conditions within China, which have resulted in a drop in consumer spending.

Update from Leith Teakle;

GFC Member Catch-ups for next week have now been finalised; we look forward to seeing as many Members there as possible!

• Monday, 17th February, 3:00 pm at the Leeman Sports Club 
• Tuesday, 18th February, 3:00 pm at The Foreshore Geraldton
• Thursday, 20th February, 3:00 pm at the Kalbarri Motor Hotel

Market Update from Bryan Keay;

• Bryan updated us on the recent intake and sales activity, reporting the highest intake period since 2017 due to the China market re-opening and pre-Lunar New Year demand.
• Due to the higher intake, the season-to-date catch rate is tracking ahead of previous season averages. Bryan shared that the Southern Rock Lobster is in a similar situation to WA, with its seasonal catch rates ahead of previous averages. With the SRL concluding their catching period at the end of May and WA's lower remaining quota, it's believed this would help support beach prices outside of the peak market demand period.
• Post Lunar New Year, most markets are entering a quieter demand period, with the next significant period being May Day. 
• Bryan also spoke about the potential impact of tariffs between the US and China. While this is an evolving space, it is believed our products would become more attractive to buyers in any market compared to a substitute product that carried a higher price point due to tariffs.

The next Member online meeting is scheduled for March 14th. The meeting link will be emailed to Members before the meeting.

Australia-China Business Council Lunar New Year Celebrations.

Representatives from GFC recently attended the Roy Hill Australia-China Business Council (WA) Chinese Lunar New Year Gala, which was held at Optus Stadium in Perth.

The event celebrated the Year of the Snake and featured breathtaking views from the River View Room. Attendees included industry leaders from Australian and Chinese business, government, and cultural communities, providing network and relationship-building opportunities for your co-operative.

New GFC Artwork Unveiled.

Did you know we have an unofficial "artist in residence" at GFC? Judy Dann is an accomplished painter and manager of the Two Rocks depot.

Judy has provided artwork for boardrooms and offices across GFC, inspired by the coastal regions where we live and operate.

Last month, Judy dropped into Sultan Way to hand over her new piece depicting the jetty overlooking the Fremantle harbour. Be sure to check out her latest artwork when visiting Sultan Way, and the next time you're in one of GFC's offices, have a look around at the walls—you might see some of Jude's other contributions!

Judy Dann, Two Rocks Depot Manager and the Sultan Way production team with her new artwork.

Big Bank Exemption for Zone B. 

The Western Rock Lobster Council recently requested an Exemption to allow nominated Masters and persons operating under the authority of a Zone B West Coast Rock Lobster Managed Fishery Licence to fish for rock lobster within the Big Bank area.

DPIRD has confirmed an Exemption has been issued. The exemption is valid from 1 February 2025 until 30 June 2025.

Click for more information from the Council.

Marine Heatwave Issued in West Australia's North Coast. 

The WA Department of Primary Industries and Regional Development (DPIRD) has declared a marine heatwave (MHW) in the North Coast and Gascoyne Bioregions, persisting since September 2024. Current sea surface temperatures are 4-5°C above average in the North Coast and 2-3°C above average in the Gascoyne. The MHW, which was a Category 3 Severe event in early January 2024, has now been reduced to a Category 2 Strong event. The Bureau of Meteorology forecasts these conditions to continue through January and February 2025, potentially impacting the West and South Coast bioregions.

DPIRD advises fishers to monitor catches and report unusual observations, while aquaculture operators should frequently check stock health and adjust protocols to minimize heat stress. 

A CSIRO briefing with industry stakeholders took place late last week; we'll share more information with Members as it becomes available.

Find out more here. 

Seafood Set to Lead Global Protein Growth According to Rabobank. 

Rabobank’s Global Animal Protein Outlook 2025 reveals that seafood is set to lead global protein production growth, surpassing poultry. This growth is driven by a 2.3% year-on-year increase in aquaculture and wild catch.

The report highlights the impact of economic conditions, government policies, and potential geopolitical disruptions on protein markets. While seafood and pork production are expected to grow, beef production will decline due to regional contractions.

Seafood leads global protein production growth – Rabobank Global Animal Protein Outlook 2025