April 9, 1998
(Fisheries and Aquaculture)

Early price settlements good for fishing industry

The early price settlements for shrimp and crab are a major step toward placing our fishing industry on a stronger footing in our export markets, as well as enhancing industry's ability to improve product quality, says Fisheries and Aquaculture Minister John Efford.

"Having early decisions on prices means these fisheries can begin early, and this means our markets can be assured that Newfoundland and Labrador can supply shrimp and crab when the markets need it. This is essential if the industry is to have a reputation as a reliable seafood supplier on an ongoing basis," he said. "With this more orderly approach, it also means that the quality of our seafood products can be given the attention they should have if we are to maintain the markets we have and increase our market share."

The news is especially good for northern shrimp, with the quota expected to increase this year from the 1997 quota of just over 59,000 tonnes. This new inshore fishery is generating new employment and investment opportunities both onshore and at sea.

In 1997, inshore harvesters had access to this lucrative stock for the very first time. Even though the inshore fishery didn't get under way until July, more than 80 vessels with total crews of 350 harvesters participated in this new fishery. On the processing side, it provided employment for more than 400 plant workers.

"This year will be even better. We anticipate that 800 harvesters will participate in this year's inshore northern shrimp fishery, and that close to 700 plant workers will be employed," Mr. Efford said.

Industry's confidence in the northern shrimp fishery is demonstrated by the fact that several processing companies have invested tens of millions of dollars into plant expansions or conversions to take advantage of the new opportunities this species is providing.

The minister said that in order to maximize the employment benefits from this new industry, he has made it a policy that all shrimp must be cooked and peeled before it is exported.

Mr. Efford said landings of snow crab are also expected to increase this year.

"Northern shrimp and crab combined will lead the way in the performance of our 1998 fishing industry," he said.

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