Newfoundland and Labrador Seafood Industry Tops $2 Billion in Market Value

Two sentences: The Newfoundland and Labrador government agreed to fund the cleanup of the abandoned Atlantic Seafood Sauce Company plant in St. Mary’s, marking the start of the remediation effort. Workers will drain about one million litres of left-behind fluids from 110 vats, mix them with peat moss, and transport the material to a lined landfill in…

The article reports that Ottawa is reopening the cod fishery and increasing the total allowable catch by 55 percent this year. It notes that this change creates a “window of opportunity” for Newfoundland products, according to officials and a local business.

The article reports that federal officials have increased Newfoundland and Labrador’s cod fishing industry by raising the total allowable catch (TAC) by 55 percent. Garrett Barry covers the government announcement and its impact on market demand following decades of a commercial ban.

The government of Newfoundland and Labrador’s cod fishing industry receives a 55% increase in the total allowable catch. The report attributes the raise to Ottawa’s official policy decision affecting the cod fishing sector.