March 17, 2006

Canada exports more seafood at lesser value in 2005

Canada's fish and seafood exports amounted to US$4.3 billion in 2005, representing a 3.5 percent on-year drop, Canada's Ministry of Fisheries and Oceans announced.

Although the country's exports were down US$156million in value in 2005, export volumes increased 2.6 percent over 2004 to amount to 703,000 tonnes.

The strengthened Canadian dollar last year partly accounted for the lower value in exports.

Export values for crab fell by 30 percent from 2004, the result of disputes between harvesters and processors, excess inventory carried over from 2004, higher catches and the strong Canadian dollar.

Canada is the fifth largest seafood exporter in the world, with the US, its largest market, absorbing 62 percent of its seafood products.

Japan and China ranked second and third in Canadian seafood imports respectively.  Other markets include UK and Denmark.

The top three species exported from Canada last year were lobster, crab, and salmon with a combined value of almost US$2.3 billion, accounting for 53 percent of Canada's seafood exports. Lobster exports were valued at US$991.7 million, followed by crab, worth US$646.5 million, and salmon, at US$641.5 million. Other major export species included shrimp, herring, scallops, cod, halibut, and clams.