March 26, 1998
(Fisheries and Aquaculture)

Additional $500,000 targeted for fisheries diversification market and product development

New funding of $500,000 provided to the Department of Fisheries and Aquaculture in the 1998-99 budget estimates is targeted for inititiatives to diversify and revitalize the province's fishery, says Minister John Efford.

"The additional $400,000 allocated for fisheries diversification enables the department to continue an aggressive program of development of new species fisheries and commercialization of underutilized species. We have had considerable success to date with such initiatives, but we must capitalize on further development opportunities to ensure the rebuilding momentum is sustained," he said.

Mr. Efford said the fact that only 20 per cent of the $540 million export value of the fishery in 1997 was for groundfish demonstrates the success of diversification efforts, especially for such new and underutilized species as shrimp, crab, sea urchins, seal, scallops and whelk.

"Clearly, fisheries diversification and development of new fisheries and underutilized species are helping offset the impact of the losses associated with our groundfisheries," Mr. Efford said. "This investment of $400,000 is an investment in creating a more viable and stable fishery that will generate increased employment and economic activity."

With the additional funding, the Department of Fisheries and Aquaculture will target other development opportunities. Resource surveys, provision of technical expertise, and technology transfer are among initiatives to be undertaken.

The minister said that in 1998, the department will continue to focus on the inshore harvesting of the abundant northern shrimp stock, which until last year was harvested only by offshore vessels. The department will conduct experimental work with shrimp pots and beam trawls, especially for the benefit of vessels 45 feet or less. Vessels over 45 feet have now demonstrated a capability to efficiently harvest northern shrimp. For whelk, another species being developed, projects designed to determine more efficient harvesting methods will be undertaken.

Commenting on the additional $100,000 allocated for a market intelligence and promotion program, promotion and development, Mr. Efford noted that this follows a recommendation by the Task Force on Fish/Crab Price Settlement Mechanisms. The Task Force, in recommending a new collective bargaining model as a pilot project, also recommended that an enhanced industry analysis and market intellligence capablity be established within the Department of Fisheries and Aquaculture to facilitate the new collective bargaining model.

Mr. Efford said that in addition to this, the new market intelligence and program program will enhance the amount of information available to industry concerning market and product opportunities. This will be particularly useful for small-medium size businesses that do not have the resources to access certain market intelligence on their own, he said.

Contact: Josephine Cheeseman, Communications (709) 729-3733.