The decision to set a 38,000-tonne quota for Canada’s Northern cod stock has been welcomed by the Atlantic Groundfish Council – which states that the 2025 science update showed that a considerably higher TAC than the one selected by the Minister could be supported by the stock.
This has taken place at a time when the Government of Canada is emphasising its commitment to an economic agenda and strengthening trade relationships with countries such as the UK and France.
‘The ability to grow in these markets is instant as Icewater Seafoods in Arnold’s Cove, NL – the only processing plant in North American focused solely on North Atlantic cod – has preserved processing expertise and relationships with premium customers in the UK and France throughout the challenging decades of the moratorium,’ the Atlantic Groundfish Council states.
‘The global cod supply is shrinking and customers in premium, year-round markets are looking for Canadian cod to fill those supply gaps,’ said Icewater Seafoods president Alberto Wareham.
‘For years we have grappled with keeping Canadian cod in global markets. This year presents a rare opportunity to notably increase our market share, returning further benefits to the people and communities that fuel this fishery. That includes local offshore and inshore harvesters, plant workers here in Arnold’s Cove and the broader service and supply sector that supports fishery operations.’
The Atlantic Groundfish Council had recommended a 49,000-tonne TAC, based on scientific evidence and sustainable harvesting rates of global cod stocks, and states that Minister Joanne Thompson’s announcement comes just as Canadian cod is the beneficiary of a unique set of circumstances in terms of science, markets, and local prices.
‘We are pleased to see an increase; however, we would have liked to see the decision more in line with what we proposed – a higher TAC and a greater share for offshore harvesters more consistent with historical landings,’ commented Ocean Choice International CEO Martin Sullivan.
‘We respect the government’s commitment to be extremely cautious with this stock, but we do need to balance an ultra-conservative approach against lost economic value.’
An Atlantic Groundfish Council representative stated that the 2025 science update signals a strong stock, confirming government made the right decision to reopen the fishery in 2024. Meanwhile other global cod stocks are experiencing decline, leaving premium markets looking to Canadian cod to fill gaps in supply – a unique opportunity for Canada to increase its market share and benefit the fishery for years to come.’
