Minister Tom Hedderson indicated the government is extremely happy with such positive performance in the fishing industry of the N.L. provincial fishery sector which registered $1 billion for the second year. Hedderson said that The Williams’ Administration has been very proactive in doing what is necessary to grow our fishing and aquaculture industries through the Fishing Industry Renewal Strategy and aquaculture investment attraction programs.
It is informed that the landed value of seafood is forecast to increase by 12.8 per cent for 2008 to approximately $540 million, while there will also be a slight increase in landed volumes. It is told that the landings of snow crab are estimated to have increased for the year and the price of the product rebounded from previously low levels.
The landings of groundfish in 2008 are expected to have increased significantly from 2007, with an increase of over 23 percent from 40,505 to 50,000 tons. Such increase is mainly due to the increased landings of yellowtail flounder. Shellfish landings for 2008 are forecast to total 197,000 tons. Shellfish experienced a substantial increase in landings because of increases in some key areas including inshore northern shrimp, snow crab and lobster.
Pelagic landings are expected to have decreased by 15 percent from 2007. This is mostly attributed to lower landings for mackerel because of the availability of fish in the 4R area in the gulf. It I said that the external competition for seafood products has risen sharply due to lower cost producers and high fuel costs that continues to challenge the industry.
