GERALDTON FISHERMEN'S CO-OPERATIVE LTD

Established in 1950, Geraldton Fishermen’s Co-operative (GFC) was formed by a small group of Western Australian rock lobster fishermen who sought to take control of their own future. GFC members have a direct stake in the financial success of the company and a deep pride in the famous Brolos brand, motivating them to catch and produce the best rock lobster product possible. Watch. During this roundtable we examine how some of Australia’s leading agricultural co-ops work to maximise produce and the food manufacturing supply chain. Journalist Pete Lewis and our farmer panel, including Matt Rutter, Chief Executive Officer of Geraldton Fishermen’s Co-operative Ltd, discuss and explore how maximising their produce into marketable products can transform producers from price takers to price makers. "Yeah, very proud. We're obviously one of the primary industries in Geraldton, but we're across all of the coastal towns, up and down 1,000 kilometres of coastline, which to be honest wouldn't exist, some of those smaller towns, if there wasn't the rock lobster industry generating the local economy because there's simply no other business that goes on there, but it underpins then the tourism in those towns. It also gives a sense of identity. I agree with what's been said earlier around the sense of identity linking in with this really important community resource. So like I say, it's fundamental to those regional towns. Simply in our case, probably 50% of them would simply not exist. " One of the things a co-operative can do is unite a community or collective of producers to work together to overcome adversity. “I think everyone should be in a cooperative if they’re in a small business. I mean, there are reasons why it works so well, and the collective wisdom and the collective grouping of individual businesses makes so much sense if it’s economy for scale or if it’s for the benefit of the community or for social aspects as well. Most definitely. ” The Australian fishing industry encompasses a range of commercial fishing activities engaged in the capture of wild ocean fish and other seafood. In 2016 the industry was estimated to have around 5,150 businesses with a combined annual turnover of around $1. 5 billion. The industry is highly exposed to international competition and has been facing rising competition from cheaper imports as well as the growth of farmed fish from the aquaculture industry. However, strong demand, particularly from Asia, has helped the industry grow by an annual rate of 2. 3% over the past five years. The global price for rock lobster has increased in the past five years due to rising demand. The company employs over 200 people. It is focused on the export of Western Rock Lobster and produces frozen, raw, cooked and live rock lobsters, primarily for exports to China, Japan, Taiwan and the United States. It has a board of 8 directors, including 6 elected members and 2 appointed independents, and distributes dividends to members based on patronage. Over the past five years GFC has seen its annual turnover increase by an average of 28%. Commercial rock lobster fishing in WA has been undertaken since the 1940s but improvements in fishing technologies that were introduced in the 1990s and early 2000s enabled fishermen to catch lobster with greater ease and efficiency. For example, in 2015 the WA Department of Fisheries offered a quota in excess of 8,000 tonnes, but the fishermen voluntarily restricted this to 6,000 tonnes. And the export market certainly responds to scarcity, not to abundance… it has certainly built our confidence so we know we have got a firm foundation, which is underpinning these investments we are making both here and in China. So it is a great success story and the key to it is, it was totally driven by fishermen, not the other way around. Although not all commercial rock lobster fishermen agreed with this “value over volume” strategy, it was a decision taken at the board level as being in the best interests of the majority of members. This required the board and the management to engage with members to help educate them towards the longer term view. Like any small business, fishermen have to invest in their own enterprise and take on the risk and cost of remaining in the industry. Part of that strategy is its ability to offer competitive pricing and the distribution of profits via a loyalty bonus based on volume of supply if they support the co-op throughout the season. It also includes investing in the marketing and supply chain in order to grow future revenue. This involves the use of specialised holding tanks, protective packaging, a fleet of refrigerated trucks that keep the lobsters healthy and under less stress during the long road trip from Geraldton to Perth, and then a well-managed cool chain from Australia to overseas distribution centres. The development of its own supply chain in China will also help the co-operative to move further into the marketing channel and sell direct to the consumer via e-commerce, delivering live lobster to their door from local distribution centres. Chinese consumers lack information about the origin and quality of the food they are purchasing, so this will potentially help GFC develop a strong reputation. “So what we are doing is we are integrating into the value chains so we still have all the same requirements back here, but we are cutting out the middle man you might say and we are building our own path to the consumer. At the moment most of our product still goes through to a handful of big seafood importers and they have the tanks, they have the distribution and so forth whereas we are now building our own capabilities. ” Wayne Hosking, CEO GFC This expansion into China is a major opportunity for GFC and helps the co-operative to add considerable value to its brand, the product it sells, and therefore the longer term returns to its members. It is a strategy that few of the smaller seafood exporters in Australia could undertake, so it will potentially make a stronger member value proposition (MVP) and help to differentiate the co-operative from these competitors. The challenge for the co-operative was to get members to look long term, what is often viewed as a “horizon problem”. And then, as we said before, there is the longer-term horizon, looking at the company’s strategic direction into the future, and we need to bring our members along with this. But they don’t necessarily relate these to the co-op’s performance and how that influences capital value and lease returns, but clearly our sales and marketing performance has a huge impact on these. You can see that over the last five years as beach prices and so forth have tripled and obviously, the capital value has increased and so forth not surprisingly. The signing of a Free Trade Agreement between Australia and China is viewed as a major benefit to GFC. Over the next five years the Chinese tariff barriers will be lowered and this augurs well for the co-operative’s export activity. GFC recently arranged an intensive tour of the China seafood market, taking 40 members and industry investors to 5 cities in 8 days so that they could better understand GFC’s strategic plans and ambitions in the world’s largest and fastest growing seafood market. This kind of stakeholder engagement is an important part GFC’s overall strategy. GFC supports fishermen, employees, licence holders and their family members along a thousand kilometres of WA’s coastline. * We are thrilled to have been part of the once again, which celebrates our vibrant community and the rich heritage of Geraldton and the Midwest. Hosting the Long Table Lunch at the stunning Abrolhos Islands, the spiritual home of Brolos lobster, was an unforgettable experience. It brought together seafood lovers to enjoy the freshest, sustainable seafood in a breathtaking setting. We also opened the doors to our facility, giving the public a behind-the-scenes look at our operations that go into delivering Western rock lobster around the corner and the globe. The tours are always popular with young and old, including special guests Minister for Fisheries and Federal Senator Events like Shore Leave are essential for fostering community spirit and showcasing the best of what our region has to offer visitors. We are grateful for the opportunity to connect with our community and celebrate together. * Final preparations are underway for our dedicated team, which will attend the in Barcelona from May 6th to 8th, thanks to. The Barcelona show is one of the largest dedicated seafood shows in the world. So meet the passionate professionals who will be representing us this year: 1. Marc Anderson - CEO. Marc has over 20 years of experience driving superior results in the fast-moving consumer goods sector. Marc is passionate about food and beverage, as evidenced by his extensive experience with well-known Australian brands like Treasury Wine Estates and Brownes Dairy. 2. Kent Stanton - Member Director. A Western rock lobster fisher for 30 years and director at GFC since 2012. Bryan Keay - GM Trade & Business Development. Bryan's commitment to market and product development is evidenced by Brolos Lobster's recent retail product range, launched in Barcelona in 2024. Mandy Miao - Sales Manager. She's passionate about delivering customer-focused solutions for our clients. Our team will give customers and prospects a unique opportunity to gain insight into our commitment to quality and sustainability—from the boat through production and into the market. If you're attending the Barcelona Seafood Show, you'll find us at the Australia Stand, GB305. * The in Barcelona are expected to attract around 30,000 visitors over three days. We're in good company at this year's show, exhibiting under the Australia stand alongside other premium Australian producers keen to strengthen Australia's reputation for excellent-quality produce worldwide. Since its inception, Shore Leave has showcased the breathtaking environment, food and cultural experiences of the Midwest. Our founding members were so captivated by this unique environment that they named our lobster products after the islands over 75 years ago. While the location is the same, your experience at the Abrolhos will differ vastly from those early fishing days. A culinary feast featuring fresh, sustainable Western Australian seafood, expertly prepared by acclaimed Chef from Bib and Tucker in North Fremantle, with support from Ben Ing, co-owner of Alberta's in Busselton and former head chef of Noma. Enjoy a selection of cocktails and perfectly paired Western Australian wines while you enjoy Island life. This is an experience you won't want to miss! 📅 23rd April 2025 📍 East Wallabi Island, Abrolhos Islands 🎟️ Tickets are limited, so act fast to secure your spot at this unique culinary event. Thanks to the and teams for their support in helping us bring our products to the British audience. Check out the UK/ Europe Austrade Linkedin account for all the pictures from the event

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• Ahead of International Women's Day, we proudly recognise and celebrate the incredible women who drive our success every day. While we couldn't include everyone, we've highlighted a few individuals who make a difference in our workplace with their dedication, innovation, and leadership. Significant barriers to women's equality remain, yet with the right action and support, positive progress can be made for women everywhere. That's why we're recognising the invaluable achievements of our female leaders across our co-operative. Let's continue to support and empower each other, accelerating action towards a more equitable and inclusive future. * Flotsam and Jetsam Geraldton showcase local talent through an annual art exhibition that incorporates creative recycling while making a meaningful difference to the delicate Abrolhos Island ecosystem. Since 2011, the Flotsam team have collected 80 tonnes of ocean debris from the waters around the Abrolhos to bring back to the mainland and make available for creatives and artists to unleash their talent. The waters around the Abrolhos Islands are abundant with sea life. It's believed that around half of the juvenile Western rock lobster population settle around the islands, growing to maturity in the nutrient-rich waters. With such a strong and continuing connection to this region, we're incredibly excited and grateful to partner with and the team at Latitude Jewellers, the driving force behind Flotsam and Jetsam. This Monday is the material selection, where artists and creatives gather at Geraldton Fisherman's Wharf to comb through the retrieved ocean debris before using their creative skills to create something memorable and meaningful for an exhibition in June. * We were honoured to welcome the Governor-General of Australia, Her Excellency the Honourable Ms Sam Mostyn AC, as part of her visit to Geraldton. Also this week, we welcomed Members of Parliament, , the President of the Senate, the Hon. , Member for Durack, and the Hon. Sussan Ley, Federal Member for Farrer and Deputy Leader of the Opposition. They're a fantastic opportunity to showcase our operations, discuss challenges and opportunities and highlight the incredible work our fishers and team do every day. We've been proud supporters of this signature event, helping to put the Mid-West on the foodie trail and strengthening our connection to our communities. Last year's festival welcomed 26,000 attendees and generated nearly $1. 3 million for the local economy, so it's exciting to see where the team will take the event this year