Innovative Investment Boosts New Zealand's King Salmon Feed Development for Export Growth

The Government is backing innovation to grow New Zealand’s high-value aquaculture exports, with a $455,000 investment from the new Primary Sector Growth Fund to support the development of specialised feed for King salmon, Agriculture, Trade and Investment Minister Todd McClay announced today.The $1.2 million project—led by global aquafeed company Skretting—will design feed tailored specifically for New Zealand’s King salmon, supporting the growth of open ocean farming and helping reduce costs for local producers.This funding comes from the Primary Sector Growth Fund, announced in Budget 2025 to support forward-leaning, high-impact projects that will drive productivity, innovation and export growth across the sector, Mr McClay says.Feed is the biggest cost for salmon farmers. Getting it right is essential if we want to scale production and lift farmgate returns.This is part of our plan to grow aquaculture into a $3 billion industry. With the launch of Invest New Zealand this month, we’re also making it easier for world-leading innovators like Skretting to invest and grow here.The initiative comes as New Zealand’s first open ocean salmon farm—Blue Endeavour—receives final resource consent. Once operational, it is expected to produce 10,000 tonnes of salmon annually and generate up to $300 million in export revenue each year.This is about backing technology and expertise to lift productivity and strengthen the global competitiveness of our salmon industry, Mr McClay says.Research will focus on optimising feed for King salmon in New Zealand’s unique conditions—supporting sustainable, low-impact farming while boosting returns at the farm gate.This is another practical step in our wider plan to double the value of New Zealand’s exports over the next decade. We’re backing sectors with high growth potential and supporting the science that will help get them there, Mr McClay says.