October 19, 2006

Aquaculture revenues in Canada hit record-highs

Operating revenues from Canada's aquaculture industry rose to an all-time high in 2005 as both production and exports increased.

The increase marked the end of two consecutive years of declines, with record revenues of US$752.6 million, up 11 percent from 2004.

Finfish sales, which accounted for nearly 90 percent of revenues, increased 12.3 percent to US$663 million, thanks to a strong increase in the value of salmon production.

The value of aquaculture exports rose 22 percent to US$514.6 million, as shipments of fresh salmon to the US jumped 25.2 percent.

Canada's two largest aquaculture-producing provinces - British Columbia and New Brunswick, also increases in sales, where  finfish revenues jumped 14.5 percent  to US$331.1 million and 6.6 percent to US$258 million respectively.