Value of Newfoundland aquaculture products rise

Odd Grydeland According to the latest report from the Province of Newfoundland and Labrador, aquaculture production was one of the few bright spots in the seafood business last year. A report in the St. John-based The Telegram, the total value of the province’s seafood industry declined by nearly 22 per cent in 2009 from the year 2008;The annual Seafood Industry Year in Review publication was released today by Fisheries Minister Clyde Jackman. The report reveals that the Newfoundland and Labrador seafood industry experienced a challenging year in 2009 with a total value of $827 million.Farmed salmon and trout sectors, however, experienced a rise in both production and market value. “Clearly, 2009 was a difficult year in the province’s fishing industry,” Jackman said. “Seafood prices were very much impacted by the global economic conditions, which contributed to lower demand for seafood products. “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. Therefore, we are hopeful of a better performance in 2010.” Jackman noted that aquaculture production rose 18 per cent and market value for aquaculture products increased by 45.9 per cent to $92 million in 2009, due primarily to strong prices for Atlantic salmon and trout. Exchange rates placed additional pressure on the fishing industry in 2009. This was especially true during the later part of the season. The high Canadian dollar relative to the United States dollar and the Euro meant that there were lower returns for harvesters and processors in this province. The report also details employment data. Employment in the province’s fishing industry was down by 14 per cent in 2009, with an average of 10,300 person years of employment. There were 105 processing plants in operation in 2009, as opposed to 115 in 2008. The shutdown in the province’s shrimp fishery in 2009 had a negative impact on the amount of shrimp that was harvested for the year, as well as employment levels in shrimp processing plants. With the reduction in shrimp landings, there was a decline of 19.3 per cent in overall plant employment.