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Fisheries and Aquaculture
October 1, 2009

Province Supports Improved Marketing of Cod and Yellowtail

The Provincial Government is providing $100,000 in funding toward a project on the marketing and promotion of Atlantic cod and yellowtail flounder seafood products. This project is being carried out by Ocean Choice International (OCI) and the funding is being provided through the Fisheries Technology and New Opportunities Program. The total budget for this project is $201,500.

�This is a particularly important time to address how these products are being marketed internationally,� said the Honourable Tom Hedderson, Minister of Fisheries and Aquaculture. �Yellowtail flounder is now re-entering global markets and seafood producers are working to reposition Atlantic cod. International markets for groundfish have changed considerably in recent years. This is exactly the type of situation the Fisheries, Technology and New Opportunities Program was designed to address. One of the key areas of focus for the program is improved seafood marketing.�

Since the moratorium on the Atlantic cod fishery began, there has been a low volume of cod for sale to international markets. Therefore, the product has not had a strong presence in international seafood markets. OCI has identified a marketing opportunity for groundfish species in North America, Europe and Asia, with a specific focus on Atlantic cod and yellowtail flounder.

�OCI recognizes the importance of promoting its products in the global marketplace and raising the image of Atlantic Canadian products such as yellowtail and cod, in particular,� said Blaine Sullivan, Chief Operating Officer. �These marketing initiatives will also have an impact on our overall groundfish operations as we secure markets for our quality products.�

The company will use creative promotional techniques to attract high-end users in the retail and foodservice divisions. The marketing initiative will begin with focus groups and creative product presentations to help establish product positioning and pricing in the European markets.

The use of promotional and advertising campaigns will make Atlantic cod and yellowtail flounder more competitive in important markets such as Spain and Portugal. These countries have historically purchased Norwegian and Icelandic products.

It is anticipated that there will be increased sales and improved employment opportunities at the facilities in Fortune and Marystown when the European markets have been further secured for these seafood products.

�The fishing industry continues to be a priority for our government," said Minister Hedderson. �This project has the potential to provide continued work for fish harvesters and increased job security in the seafood processing sector.�

The Fisheries Technology and New Opportunities Program is a critical component of the Fishing Industry Renewal Strategy. Budget 2009: Building on Our Strong Foundation allocated $2 million for this program which was designed to support the harvesting, processing and marketing sectors, and ultimately increase the overall viability of the province�s fishing industry.

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Media contacts:

Lori Lee Oates
Director of Communications
Department of Fisheries and Aquaculture
709-729-3733, 690-8403
oatesll@gov.nl.ca
Blaine Sullivan
Chief Operating Officer
Ocean Choice International
709-782-7122

2009 10 01                                                   10:55 a.m.
 


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