April 23, 2010
Canadian states report decline in 2009 fish revenues
Two of Canada's most important fishing states, Newfoundland and Labrador have reported a decline of nearly 22% of the province’s seafood values to CAD827 million (US$825 million) in 2009, according to a recently released annual seafood industry review.
Fisheries Minister Clyde Jackman said the recession was to blame for much of the decline. A strong Canadian dollar relative to the US dollar was another factor in producing lower returns for both fishermen and processors, he added.
“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. We are hopeful of a better performance this year,†Jackson said.
Aquaculture production rose 18% and market value for aquaculture products increased by 45.9% to CAD92 million (US$91.8 million) in 2009, due primarily to strong prices for Atlantic salmon and trout, according to the minister.
