March 16, 2011

Japan earthquake disaster could hurt Canadian seafood industry

Last week's earthquake and tsunami in Japan could cause an upheaval in Canada's seafood industry and affect fish exports, US-based seafood analysts have warned.

"The country may become so focused on relief and rebuilding that they're not really thinking more about the high-end goods, and there's less consumption of gift packs and less eating out at restaurants," analysts said.

Japan purchases about 40% of the crab landed in Newfoundland and Labrador. Crab has been the most lucrative part of the province's seafood industry since cod stocks collapsed in the early 1990s.