Fisheries and Aquaculture
August 17, 2015
Supporting New Opportunities for the Seafood Sector
Eastern Fish Markets Ltd. to Receive $29,400 to Support Marketing Initiatives
With an investment of $29,400 through the Fisheries Technology and New Opportunities Program, the Provincial Government is supporting Eastern Fish Markets Ltd. in Carmanville to complete market research and develop a marketing plan. This initiative will help the company increase their share of the live lobster market and build the value of their product in the long run.
“Our government’s investments through the Fisheries Technology and New Opportunities Program are continuing to support harvesting, fish farming, processing and marketing projects throughout the province. This investment in Eastern Fish Markets Ltd. will help the company to identify export opportunities elsewhere in Canada and around the world.”
- The Honourable Vaughn Granter, Minister of Fisheries and Aquaculture
This funding builds upon nearly $65,000 in previous funding provided to the company to support the construction of an upgraded live lobster holding system that was completed last fall. This system enables the company to produce higher quality lobsters and hold them for extended periods providing the potential to store high-quality live lobster for sale during periods when supply is low and prices are highest.
“Eastern Fish Markets Ltd. has a long history in the province’s seafood industry and continues to be an important contributor to the economy of this region. I am pleased to see this support from the Provincial Government which will help this company to realize further opportunities to increase its market share and value. ”
- Eli Cross, MHA for Bonavista North
The marketing initiative will also include the development of branding and promotional material for the company.
“Funding through the Fisheries Technology and New Opportunities Program has allowed our company to develop the capacity to market high-quality, live lobster for a much larger portion of the year than ever before. Newfoundland and Labrador lobster has traditionally been shipped to other jurisdictions where it is held and sold during peak periods when supply is low and prices are high. Our recent projects are leading the way to tremendous change and independence in the marketing of Newfoundland and Labrador lobster which bodes well for the future of this industry.”
- Wayne Wheaton, Chief Executive Officer, Eastern Fish Markets Limited.
Budget 2015 allocates $1 million to the Fisheries Technology and New Opportunities Program bringing total investments under this program to approximately $14 million since 2007.
- The Provincial Government is providing $29,400 to Eastern Fish Markets Ltd. of Carmanville to support marketing initiatives for the sale of live lobster.
- Eastern Fish Markets Ltd. has been in operation for 34 years and has grown to become one of the largest lobster buyers in the province.
- These marketing initiatives will help the company capitalize on new opportunities stemming from its recently upgraded live lobster holding facility which increases its holding capacity and extends its holding season.
- Budget 2015 allocates $1 million to the Fisheries Technology and New Opportunities Program bringing total investments under this program to approximately $14 million since 2007 to enhance harvesting, processing, & marketing techniques in the seafood sector.
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Director of Communications
Department of Fisheries and Aquaculture
Constituency Assistant to Eli Cross
MHA for Bonavista North
Officer Eastern Fish Markets Ltd.
2015 08 17 2:15 p.m.