Province releases seafood industry year in review for 2009

Staff ~ The Telegram
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The total value of the province's seafood industry declined by nearly 22 per cent in 2009 from the year 2008, a report states.
The annual Seafood Industry Year in Review publication was released today by Fisheries Minister Clyde Jackman.
The report reveals that the Newfoundland and Labrador seafood industry experienced a challenging year in 2009 with a total value of $827 million.
Farmed salmon and trout sectors, however, experienced a rise in both production and market value.
"Clearly, 2009 was a difficult year in the province's fishing industry," Jackman said. "Seafood prices were very much impacted by the global economic conditions, which contributed to lower demand for seafood products.
"There were depressed prices for key species such as snow crab, shrimp and lobster. Yet we are very encouraged by the performance in the aquaculture industry. Notwithstanding exchange rates, there are low inventories for crab and shrimp going into the 2010 season and light ice conditions. Therefore, we are hopeful of a better performance in 2010."
Jackman noted that aquaculture production rose 18 per cent and market value for aquaculture products increased by 45.9 per cent to $92 million in 2009, due primarily to strong prices for Atlantic salmon and trout.
Exchange rates placed additional pressure on the fishing industry in 2009. This was especially true during the later part of the season. The high Canadian dollar relative to the United States dollar and the Euro meant that there were lower returns for harvesters and processors in this province.
The report also details employment data.
Employment in the province's fishing industry was down by 14 per cent in 2009, with an average of 10,300 person years of employment.
There were 105 processing plants in operation in 2009, as opposed to 115 in 2008.
The shutdown in the province's shrimp fishery in 2009 had a negative impact on the amount of shrimp that was harvested for the year, as well as employment levels in shrimp processing plants. With the reduction in shrimp landings, there was a decline of 19.3 per cent in overall plant employment.
The Seafood Year in Review 2009 can be found at www.fishaq.gov.nl.ca/publications/index.html#seafood.

Geographic location: Newfoundland and Labrador, Atlantic, United States

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Recent comments

  • Off the Cuff
    July 02, 2010 - 13:16

    The frustrating part of the recent fishery financial numbers is that the numbers of increased in the aquculture industry but because of the failure of government to attach processing conditions to these fish farms that the processing be completed in the province, there were few additional jobs in this industry, attached to the aquaculture grants to these companies.

  • Off the Cuff
    July 01, 2010 - 19:56

    The frustrating part of the recent fishery financial numbers is that the numbers of increased in the aquculture industry but because of the failure of government to attach processing conditions to these fish farms that the processing be completed in the province, there were few additional jobs in this industry, attached to the aquaculture grants to these companies.