Commercial Atlantic salmon farming in Tasmania began in the mid-1980s through a partnership between the Tasmanian Fisheries Development Authority and a Norwegian venture known as Noraqua. The initiative was led by the government’s marine biologist, Dr Trevor Dix. Initially, salmon eggs were brought from a hatchery at Gaden in the New South Wales high country to new hatcheries at Taroona (near Hobart) and, later, at Wayatinah in central Tasmania. The juvenile salmon (called smolt) were raised at the hatcheries in fresh water before being transferred to salt water sea pens.
Among the first private companies to buy young fish from the hatcheries were Noraqua’s subsidiary, Tassal, with sea pens at Dover, some 130km south of Hobart; Nortas with an operation at Bruny Island; and Huon Aquaculture, a venture by cattle farmers Peter and Frances Bender. In recognition of Noraqua’s participation in establishing the Tasmanian hatchery, Tassal was granted the rights to 40 per cent of the young salmon it produced.
In the early days of the industry, there were more than a dozen companies purchasing the smolt. The first Atlantic salmon harvest, of 53 tonnes, was from the Tassal sea farm in 1986. In 1987, another company, Sevrup, began the first salmon farming venture in Macquarie Harbour, on Tasmania’s west coast. It was followed by Petuna Seafoods, Tassal, and Huon Aquaculture.
Early optimism for the new industry was dented in October 1987 when “Black Monday” saw the stock market crash. Banks tightened credit standards, making capital scarce and expensive for businesses trying to survive a liquidity squeeze. Tassal, which had been publicly listed since August ’87, lost more than a million dollars over the following year. Its finances recovered, but in 2002 the company was again in trouble and was placed in receivership. The receivers arranged the acquisition of Tassal’s competitor, Nortas, and the merged company was relaunched on the ASX.
One of the major challenges in the industry’s early days was encouraging Australians to eat fresh Atlantic salmon, with much of the initial harvest being sold to Japan. Marketing initiatives included recruiting ambassadors such as renowned chefs Tetsuya Wakuda and Iain Hewitson to spruik its benefits. Over the following decades, the domestic market grew. By 2020, the value of farmed salmon in Tasmania was $796 million, making it the state’s largest farming enterprise, ahead of beef and dairy. Today (2026) it’s valued at more than a billion dollars.
Despite its success, the industry has divided Tasmanians. The significant economic benefits need to be weighed against its environmental impacts, creating headaches for politicians and prompting frantic attempts by producers to promote their ‘green’ credentials. Salmon farming in Macquarie Harbour, in particular, has been condemned for mass fish kills, polluting the waterways and posing a threat to several endangered species. In 2025, the Tasmanian Government announced a review into the industry, focusing on existing and proposed monitoring, regulation, environmental standards, compliance and penalties, and legislation; and whether they need to be strengthened or changed. Expansion of salmon farming was paused while the review took place.
As of 2026, there are just three major salmon farming operations in Tasmania. None of them is Australian-owned. Tassal is owned by the Canadian seafood giant Cooke Inc., which acquired and delisted the company from the ASX in 2022; Huon Aquaculture is owned by JBS, a large Brazilian multinational meat and food processing corporation; while Petuna is owned by the New Zealand seafood company Sealord.