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Newfoundland Finds Billion Dollar Success

by 5m Editor
8 January 2009, at 12:00am

CANADA - The Newfoundland and Labrador Provincial Department of Fisheries and Aquaculture has estimated fishery production value for 2008 will exceed $1 billion.

Minister Tom Hedderson indicated the government is extremely pleased to see such positive performance in the fishing industry, reported Nova News Now.

According to a report, “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. We are pleased to see that these efforts continue to pay off.”

Nova News Now say 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. The landings of snow crab are estimated to have increased for the year and the price of the product rebounded from previously low levels.

5m Editor