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Canadian aquaculture rebounded in 2002, inspite of poor market prices

Increased production saw revenues from Canada’s aquaculture industry rebound last year, in spite of lower prices for farmed salmon.

October 31, 2003

Statistics Canada says in its Aquaculture Statistics, 2002 published this week, that aquaculture income was a record  $732.3 million in 2002, up 4.9% from $697.8 million in 2001. Sales of products and services reached $711.8 million, a 6.0% increase. Of that, finfish, mostly salmon, accounted for just over 90% of total sales, or $644.3 million.

Production and exports of finfish were up 7.0% on 2001, with the total value of aquaculture exports up by 6.7%, at $474.0 million. However, larger output of farmed salmon in the United States, together with outbreaks of disease, had a major impact on revenues, the report says.

Total value of aquaculture exports stood at $474.0 million last year, up 6.7%, with the U.S. taking 8.0% more - especially of salmon - than in the previous year.

Canada's exports of filleted products to the United States grew 20.2 per cent, the report says, although the value of those products rose only 6.4 per cent because of lower prices.

Sales of molluscs rose modestly to $61.3 million.

The full report is available online at: http://www.statcan.ca/english/freepub/23-222-XIE/23-222-XIE02000.pdf

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