2000 Seafood Industry Year in Review document released

Gerry Reid, Minister of Fisheries and Aquaculture, today announced the release of the 2000 Seafood Industry Year in Review document, which details the performance of the fisheries and aquaculture sectors last year.

"In 2000, we saw a total production value of $1 billion for the second consecutive year, and an all-time record landed value of $581 million in our commercial fishery," said Reid. Higher prices in the crab industry and an increase in shrimp landings attributed largely to the success experienced last year. Market prices were generally stable and despite a slight decrease of one per cent in the overall landings, the total landed value increased by 15 per cent.

"Our aquaculture industry also had a successful year with an export value of $13.5 million, providing employment to some 500 people, and this is especially significant for our rural regions, as 90 per cent of this employment was located in rural Newfoundland and Labrador," added Reid. "There are many exciting things happening in this industry including the great potential of cod grow-out programs and value-added mussel production. There are many more opportunities which we will continue to capitalize on as we refine our products and further develop our marketing efforts."

The 2000 Seafood Industry Year in Review also updates the work of the Fisheries Diversification Program, which works to diversify and revitalize the fishing industry. Since 1999, this federal-provincial program has distributed $6 million, with more than 90 projects funded in 2000. With a total budget of $10 million, this program assists applicants with programs ranging from research for innovative harvesting projects to product enhancement technologies.

"Overall, the fishing industry has come a long way since the collapse of the groundfish fishery in 1992, but we still have challenges which we face," added Reid. "We must ensure that prudent management measures are in place and practice responsible fishing practices, so that we continue to enjoy a viable and sustainable industry. Through continued quality assurance measures, increased professionalization, and reliance on scientific advice for future management, we will ensure that our fishery continues to be the cornerstone of our economy for future generations."

Copies of the 2000 Seafood Industry Year in Review may obtained by calling (709) 729-3723.

Media contact: Elizabeth Matthews, Communications, (709) 729-3733.

2001 03 23                           11:30 a.m.