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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsIn July 2024, Fremantle Octopus Group urged the Western Australian Government to invest in the state’s octopus industry. The often-cited A$8.3 million figure was the fishery’s estimated Gross Value of Production (GVP)—not the amount requested and not the company’s forecast for a larger industry. Fremantle Octopus managing director Glenn Wheeler said an expanded sector could generate A$70 million to A$80 million in annual wholesale revenue, but that was his estimate, not an official projection or an achieved result.
What was Fremantle Octopus asking the WA Government to do?
PerthNow reported on 11 July 2024 that Fremantle Octopus Group was calling for State Government investment to help expand Western Australia’s octopus industry. Managing director Glenn Wheeler argued that the sector had demonstrated commercial potential since its establishment in 2015 but needed government support to grow further.
The company’s case included potential export growth, employment, tourism, economic diversification and lessons for other states. The report did not specify a total amount requested or report a government commitment. DPIRD fisheries management officer Shane Walters said the department supported exporters engaging with international markets to develop trade partnerships and support market access and diversification. The report said DPIRD could not confirm further State investment at that time.
What does the A$8.3 million figure mean?
The figure refers to the fishery’s Gross Value of Production, or GVP: a measure of the value of production, not a government grant, company revenue forecast or net profit. In October 2023, the Western Australian Department of Primary Industries and Regional Development (DPIRD) identified A$8.3 million as the latest GVP for the Octopus Interim Managed Fishery. Austrade repeated an estimated A$8.3 million value in a May 2024 export feature.
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DPIRD’s 2023 announcement said the fishery was supported by 24 vessels and processing facilities in suburban Perth and Geraldton. It also noted that an earlier estimate of about A$6 million used an older GVP figure. These are dated measures of the fishery’s value, not interchangeable estimates of what the proposed expansion would earn.
How does the company’s expansion estimate compare?
In the July 2024 PerthNow report, Wheeler estimated that an expanded fishery could generate A$70 million to A$80 million in annual wholesale revenue. This was a company representative’s estimate of a possible future scale, not an official forecast, confirmed investment case or current industry result. The article compared the ambition to a A$100 million Western Australian rock lobster industry and reported the company’s aspiration to reach a similar scale by 2034; that comparison does not establish that octopus production or revenue will reach that level.
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| Figure | What it describes | Source and qualification |
|---|---|---|
| A$8.3 million | Fishery GVP | DPIRD’s latest stated GVP in October 2023; Austrade described the fishery as worth an estimated A$8.3 million in May 2024. |
| A$70 million–A$80 million a year | Possible annual wholesale revenue for an expanded fishery | Glenn Wheeler’s estimate, reported by PerthNow in July 2024; not an official forecast or achieved value. |
| A$100 million | Rock lobster industry comparison | PerthNow’s July 2024 comparison for the company’s aspiration to reach a similar scale by 2034; not an octopus industry result. |
What evidence supports the industry’s commercial potential?
There was evidence of export activity, though it does not prove that future growth is assured. In May 2024, Austrade described Fremantle Octopus products appearing on menus or in retail settings in Australia, North America, Asia and the UK. Those placements document reach at the time of publication; individual listings can change.
Invest and Trade WA’s 2023 export-award profile described Fremantle Octopus as an integrated fishing, processing, distribution and export business. The profile said the company controlled 47% of Western Australian octopus fishery licences and recorded 51% export-sales growth in FY23. Those figures describe the business at that time, rather than the entire industry or its current position.
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What sustainability measures and research are in place?
Fishery management and certification
DPIRD’s October 2023 announcement said whale-entanglement mitigation measures applied across the fishery, with gear changes scheduled to take effect on 1 April 2024. The measures reduce rope in the water, limit floats and surface rope, require part of a trapline to be held vertically, and set a minimum number of traps or cradles on longlines during whale migration months. DPIRD also said the fishery received Marine Stewardship Council (MSC) certification in 2019.
A later WA Government update, dated 8 October 2025, reported that the Western Rock Octopus fishery had been recertified by MSC in 2025 and was one of two MSC-certified octopus fisheries worldwide. The same update said the fishery had grown by more than 250% over the decade preceding the announcement. That growth is an official description of the prior decade, not proof that further growth will be sustainable without appropriate management.
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Research funding is not a business investment
The 2025 government update described a two-year project examining fishery-independent, biological, and economic-processing methods to inform sustainable growth. The Fisheries Research and Development Corporation (FRDC), on behalf of the Australian Government, provided A$650,260 in research funding, according to the release. This is funding for research—not evidence that the State funded Fremantle Octopus’s 2024 request or approved its revenue estimate.
Company claims about its fishing method
Fremantle Octopus says its patented “Trigger Trap” uses a decoy crab and bait pellet, and describes the method as having zero bycatch and zero ghost fishing. These are the company’s own claims and should not be treated as independently established conclusions based on the cited government or export sources.
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What the available figures do—and do not—show
- Measured value: A$8.3 million is the reported GVP of the fishery, not a funding request or a forecast.
- Company ambition: A$70 million to A$80 million in annual wholesale revenue was Wheeler’s estimate for an expanded industry, not an official projection.
- Public support: DPIRD described international market engagement support, and the later government update documented Australian Government-backed research funding. Neither establishes a State investment commitment to the company.
- Sustainability context: Official releases describe management measures and MSC certification, including a 2025 recertification. Research is also underway, but these facts do not guarantee that any proposed expansion will achieve a particular economic or environmental outcome.
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