The Irish aquaculture industry has grown exponentially from small beginnings in the early 1980s to a point where currently output of 40,000 tonnes is now worth nearly £60 million per annum. Aquaculture production world-wide now provides over 25 per cent of global seafood production. This trend is mirrored in Ireland where aquaculture production amounts to some 10 per cent in volume terms and 30 per cent in value terms of our total fish production. The key commercial species are salmon, trout, mussels and oysters. Commercialisation of other species is under way. The potential for further growth, value added and jobs in this sector is considerable and will bring direct benefits to our coastal communities.
I am committed to ensuring that the aquaculture industry is fully supported through the provision of safe and modern landing places at key locations around the coast. The cost benefit of such investment is self-evident and the economic returns are there for the taking. I am very pleased to inform the Deputy that I am providing £7.35 million in 1999 for the capital development of major fishery harbours and landing places. This is a very substantial increase over the funding available in recent years. I also announced last week, in the context of the budget, the provision of a further additional £3 million specifically earmarked to support small fisheries harbours and aquaculture landing places. The aquaculture industry and the fishing industry therefore are set to benefit from total investment support in infrastructure of over £10 million next year. In finalising the prioritised list of projects for the 1999 capital programme, I am inviting the aquaculture industry itself to submit its own assessment and short-list of priorities. This will help me to ensure that investment is focused on those locations which are a priority in safety and economic terms and will deliver the best economic return for the aquaculture sector.