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Headed out to Sea - Keith Gosse

 

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  • Fish landings are expected to increase by 5-10% marking the fifth consecutive year of improvement.
  • Gains in cod, crab, turbot and other species are all expected to contribute to the increase.
  • Markets are expected to remain buoyant.
      

 

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Diversifying the Industry

Fisheries

Landings

Continuing the strong growth witnessed in recent years, fish landings in 1998 rose to approximately 248,000 tonnes representing a gain of about 22% over the previous year. Including seals, the value of landings rose to approximately $384 million representing a gain of about 25% over the previous year. The income generated from harvesting is now at the highest level ever attained.

The single largest contributor to the improved fisheries performance last year was the northern shrimp fishery. Shrimp landings in 1998 rose to 54,000 tonnes accounting for approximately 52% of the overall improvement in landings. Beginning in 1997, and expanding in 1998, most of the growth in northern shrimp allocations was directed toward the inshore fishing sector. The result has been substantial investment by both the harvesting and processing sectors in a growth area that generated substantial economic benefits throughout many regions of the Province. Shrimp is now the number one species prosecuted by the industry making the Province one of the largest producers of cold water shrimp in the world.

Seafood Production

Higher landings, better prices for some seafood products and favourable exchange rate conditions were all supporting factors that boosted the value of seafood production in 1998 to $693 million representing an increase of 16.8% over the previous year. The value of secondary fish production (fully processed seafood) rose by 45.4% during 1998 representing a strong escalation in the growth of this component of the industry. Overall, fish exports last year comprised about 14% of total exports.

Employment and GDP

Increased activity in the harvesting and manufacture of seafood was evident in the employment numbers. Harvesting employment in 1998 rose by 10.5% over the previous year to 10,500 on an annual average basis while processing employment increased by 8.8% to 6,200. A resurgence in the fishery has made a significant contribution to the recent gains in the economy overall. Employment gains in the fisheries sector directly accounted for nearly one quarter of total employment gains last year.

Investment

Strong prevailing market conditions in major consumer countries over the past 5-6 years combined with an improved resource base have given rise to many new opportunities in the fishery. With an emphasis on quality like never before, sizable investments continue to be made in state-of-the-art harvesting and manufacturing processes. Complementing progress made in traditional components of the industry, such as the modernization of crab processing plants, growth in the newer aspects of the fishery is positioning the industry for further gains in output, employment and incomes.

 

Investing in the Fishery

  • $60 million in shrimp processing facilities
  • $3 million in seal tanning plants
  • $1.2 million in processing capacity for new species such as whelk and sea urchins
  • $8-10 million upgrading and modernization of the crab processing sector
  • $50 million upgrading and modernization of fishing vessels

 


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