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Fishery Value Reaches High for 2007

by Ellen Hardy
06 February 2008, at 12:00am

CANADA - Newfoundland and Labrador fisheries were valued at almost CAN$1 billion last year - an historic high and due to increased landings and better returns for key species.

Tom Rideout, Provincial Minister of Fisheries and Aquaculture, said there were two key reasons why the fishery was so lucrative in 2007. The fishery started on time with no major price disputes and landings were up 5.7 per cent over 2006 due to an increase in shellfish and pelagic species s.

In comments reported in the The Coaster, Minister Rideout said that snow crab had been a very important species for the province's fishery since a decline was seen in groundfish.

"It is extremely positive that our province was able to benefit from both the higher price and increased landings for snow crab last year. This species makes an important coastal contribution in rural areas of the province."

Levi Snook in Harbour Breton was one of those fish harvesters where the snow crab was very important in 2007.

"The snow crab fishery was the savior of many fish harvesters in 3ps in 2007. The price increased from about CAN$.94, in 2006, to about $2 per pound last year, and this increase certainly made a big difference economically for large and small boat fishermen alike," said Mr. Snook.

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Ellen Hardy