Fishery landings up in 2004 and on pace to exceed $1 billion product value

As of the end of July 2004, year-to-date landings in the Newfoundland and Labrador fishery are up 8.7 per cent compared to the same period in 2003, and the fishery�s production value is on pace to again exceed the $1 billion mark in 2004, says Trevor Taylor, Minister of Fisheries and Aquaculture.

"The increase in landings points to the benefits of the fishing industry operating cohesively in the face of international competition," said Minister Taylor. "Ultimately, Newfoundland and Labrador�s emphasis on product quality is maximizing the value of our resource. We have implemented mandatory shrimp and crab grading requirements to assess quality and I anticipate that we�ll see further improvements in our Quality Assurance Program based on new strengthening measures announced in the provincial budget."

The overall increase is primarily explained by the success of the capelin fishery, which has been one of the best in years. Catch to date of capelin is 32,247 metric tonnes, compared with 20,474 tonnes at this point last year. Prices have been strong due to a very low inventory of frozen capelin in Japan, combined with reduced landings in Iceland and Norway, which have contributed to increased demand in Japan, Taiwan, and Europe. This has driven a considerable increase in landings of pelagic species (up 39 per cent year-to-date).

Groundfish landings are also up slightly (up 5 per cent) from the same period last year. This is primarily explained by increased catches of cod (due to a reopened Northern Gulf of St. Lawrence fishery) and yellowtail (due to increased winter activity). In addition, the lump roe fishery has been very strong in 2004, with total landings more than double the 2003 levels. The biggest groundfish decline has been in monkfish, which has had lower catch rates.

Total shellfish landings are on par with 2003 (up 2 per cent). Although there are troubling resource indicators, snow crab is approximately on par with previous years, with continued strong markets resulting in the strong prices being received by harvesters. This has occurred despite closures due to soft shell crab and concerns relative to catch rates in NAFO areas 2J and 3K. Despite a slow start, good landings are being experienced in the shrimp fishery due to favourable weather conditions and extremely high catch rates. Overall, inshore shrimp landings to date are nearly double 2003�s. Moreover, efforts by harvesters and processors to start addressing structural inefficiencies have resulted in prices to shrimp harvesters remaining reasonably stable. This has occurred in the face of difficult market conditions and a stronger Canadian dollar. The biggest decline in the shellfish industry has been seen in off-shore shrimp (due to less fishing activity).

Added the minister: "The fishery remains an important economic engine for communities throughout Newfoundland and Labrador. Any growth in our fishery, no matter how small, is particularly good news for our province�s rural areas."

Media contact: Alex Marland, Communications, (709) 729-3733

2004 08 19                                      11:40 a.m.