Canadian province reports sharp decline in '09 seafood value

The Newfoundland and Labrador government is reporting a sharp decline in the value of the province's seafood industry last year.

Figures released show a total value of CA$827 million, down almost 22% from 2008.

Fisheries Minister Clyde Jackman said global economic conditions contributed to a lower demand for seafood products.

Clyde also noted that a strong Canadian dollar relative to the US dollar and the euro led to lower returns for harvesters and processors.

On a positive note, he said that aquaculture production rose 18% and market value for those products increased by 45.9% to US$92 million last year.