Canada’s fisheries industry must focus on improving the value of the industry rather than just increasing volumes, to take advantage of increasing demand in both domestic and foreign markets, according to a Conference Board of Canada report released December 5.
The industry must shift its attention from quantity to quality; instead of looking toward maximizing volumes caught or produced, it must increase the value of the product in order to reverse the trend of decreasing domestic demand. This involves improving fishery management and sustainability.
“The sector needs to improve its ability to sustain the resource and the environment along the entire supply chain, from fin to fork,” said Jean-Charles Le Vallée, Conference Board senior research associate.
The board makes specific recommendations to the industry to improve product value, which include:
- communicating benefits of fish and seafood to the domestic market;
- modernizing regulations and legislation;
- setting and monitoring ecological limits; and
- improving eco-certification and data about the industry.
Specifically, offers a particular opportunity for growth.
The industry must also focus on increasing export growth. The Food and Agriculture Organization forecasts seafood demand worldwide will increase 15% over 2009-11 levels by 2021. Most of this growth will be in aquaculture – also known as farmed fish – an area in which Canada has lost 40% of its global market share since 2002.
The full report can be found on the Conference Board of Canada website.
