Fisheries and Aquaculture December 18, 2007
Fishing Industry Performance at Historic Levels in 2007:
It is estimated that for 2007 the total annual value
of the province�s fishery will approach $1 billion. This represents a
historically high level of industry performance and is primarily
indicative of increased landings and improved market values for key
species. "Our government is pleased to see such a positive
performance in our province�s fishery," said the Honourable Tom Rideout,
Minister of Fisheries and Aquaculture. "We have placed a great deal of
focus on addressing the issues in the industry and I am pleased to see
these efforts are beginning to pay off." For the January to November period, landings were up
5.7 per cent over 2006, largely due to an increase in shellfish and
pelagic landings. This offset a decline in groundfish landings which
remain down due to the fact that some quotas will not be fully harvested
this year. Shellfish landings increased 6.8 per cent over 2006, which
was largely due to an increase in landings for both northern shrimp and
snow crab. A 6.2 per cent increase in snow crab landings was an
important boost for the industry as the harvesting price for snow crab
also increased considerably in 2007. The increased landings for snow
crab, combined with an increased harvesting price, resulted in a 70 per
cent increase in landed value for the snow crab fishery in 2007. Market
prices for snow crab rebounded this year and this resulted in a higher
price for harvesters. However, while prices have increased, the strong
Canadian dollar diminished the returns that the industry would have seen
had exchange rates been more favourable. "Snow crab has been a very important species for our
province�s fishery ever since the decline in groundfish," said Minister
Rideout. "It is extremely positive that our province was able to benefit
from both the higher price and increased landings for snow crab in 2007.
This species makes an important economic contribution to many coastal
communities in rural areas of the province. I am delighted that this
fishery was particularly strong in 2007." Groundfish landings fell by 3.9 per cent between
January and November 2007. This was mostly due to a decrease in landings
for redfish and turbot. As well, yellowtail flounder landings remained
particularly low. For the January to November period, pelagic landings
increased by 7.7 per cent over 2006. This can largely be attributed to
an increase in mackerel landings. In the aquaculture industry, mussel and salmonid
production remained on par with 2006. It is anticipated that aquaculture
production value will decline marginally in 2007 due to the rise in the
Canadian dollar. Seven new aquaculture sites were developed and stocked
this year which should positively impact future production levels. Employment in the fishery was down by a total of three
per cent. However, approximately 25,000 people continue to be employed
in the province�s fishery. Conversely, employment has increased by 10
per cent in the province�s aquaculture industry. "Based on what my department has heard throughout the
year, it is not surprising to see employment decreasing in the fishery,"
said Minister Rideout. "That is why our government has made it a
priority to revitalize this industry with our Fishing Industry Renewal
Strategy. We have implemented a series of Provincial Government programs
to again make the fishery an industry that young people will choose to
enter. The total provincial undertaking in relation to this strategy is
an estimated $140 million." The fishery started on time in 2007 and there were no
major price disputes. The price setting panel worked very well again
this year. Overall, landings for the year are expected to remain on par
with 2006 with a landed value of approximately $500 million. The value
of this product in the marketplace will likely top $1 billion.
"This year has been a good year for the fishing and
aquaculture industries in Newfoundland and Labrador," said Minister
Rideout. "The fishery will continue to be a priority for our government
as we move forward into 2008." -30- Media contact:
2007 12 18
11:00 a.m. |
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