Fisheries and Aquaculture
March 8, 2007

Government Releases 2006 Seafood Industry Year in Review

The provincial seafood industry overcame significant global challenges in 2006, and much progress was made in charting a new course toward sustaining the fishery into the future.

The Honourable Tom Rideout, Minister of Fisheries and Aquaculture, today released the department�s 2006 Seafood Industry Year in Review. He says there is much reason to remain optimistic, despite the negative impacts related to the appreciation of the Canadian dollar, soft markets, stiff competition from low cost producers and high tariffs.

"2006 was certainly a turning point year for our fishery," said Minister Rideout. "Key among our successes was the initiation of a fishing industry renewal process involving both the provincial and federal governments, as well as industry. Furthermore, government implemented many of the recommendations of the Cashin Report, including the establishment of a Standing Fish Price Setting Panel. This ensures that the season commences on time, helps bring stability to the industry, and provides a predictable supply of quality seafood to our customers worldwide."

Minister Rideout also noted that 2006 was a tremendous year for the seal fishery, with the production value reaching $55 million, which is up from the $40 million recorded in 2005. Furthermore, the year marked an increase in shellfish landings and the seafood production value, while declining from 2005 to $900 million, still remained near historically high levels.

The Department of Fisheries and Aquaculture also initiated numerous projects focused on technology development and the identification of new fisheries opportunities and participated in a number of market expansion efforts, including increased trade show participation and meetings with various fisheries committees with the European Union.

"The aquaculture sector also reached significant milestones in 2006," said Minister Rideout, "and it continues to emerge as a flagship industry for rural Newfoundland and Labrador. During 2006, production surpassed 10,000 tonnes with an associated $52.3 million in export value."

The minister added that millions were invested into the seafood sector by the provincial government in 2006. This included:

an unprecedented investment of almost $6 million to allow the aquaculture industry to grow at a faster pace;

$10 million toward a $156 million project being carried out by Cooke Aquaculture on the south coast that will triple the province�s salmon production by 2008. This project has created 30 full-time jobs immediately and provide an additional 170 jobs in the next 18 months;

An additional $250,000 under the Fisheries Development Program to carry out various exploratory surveys and other developmental initiatives. The Department of Fisheries and Aquaculture currently spends $700,000 under this program;

$1.5 million to implement the Cod Recovery Strategy in partnership with DFO and Memorial University.

"While 2006 was indeed a difficult year," continued the minister, "we achieved numerous successes and have certainly positioned ourselves to move aggressively forward."

The 2006 Seafood Industry Year in Review is available online at www.gov.nl.ca/fishaq/publications/publications.stm.

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Media contact:
Lori Lee Oates
Director of Communications
Department of Fisheries and Aquaculture
709-729-3733, 690-8403
oatesll@gov.nl.ca

2007 03 08                                               9:40 a.m.
 


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