Canada launches cod farming project in eastern province

Canadian senator Fabian Manning, Canadian Fisheries and Aquaculture (MFA) minister Tom Hedderson and Cooke Aquaculture chief operating officer Mike Cooke, announced a US$8.5 million project to develop a cod aquaculture demonstration farm in Newfoundland and Labrador.

Manning said this project continues to place the province as a leader in the diversification of the Canadian aquaculture industry, adding that the investment in the aquaculture industry would improve conservation and create sustainable jobs.

The Canadian government is committing US$1.5 million to the project, with Fisheries and Oceans Canada contributing US$1 million under the Aquaculture Innovation and Market Access Program, and the Atlantic Canada Opportunities Agency (ACOA) investing US$500,000.

ACOA's investment of US$500,000 is being provided through the Business Development Program, which is designed to help clients set up, expand or modernise their business.

In Budget 2008, MFA allocated US$2 million over four years to assist with the development of a cod demonstration farm.

Cooke Aquaculture plans to stock 200,000 to 250,000 juveniles in the first year and 400,000 cod annually for the second and third year.

The first year-class of fish will be harvested in the fourth year and it is anticipated that further year-classes of cod will be stocked in subsequent years as the business continues to grow.