The Canadian aquaculture industry experienced a mixed year in 2023, with national sales and production declining. However, New Brunswick's aquaculture sector emerged as a beacon of growth and resilience, significantly boosting the Atlantic provinces' performance.
From Sea to Success
Atlantic Provinces Lead Growth in Finfish Production
While British Columbia's aquaculture industry faced substantial setbacks, including a 41.4% drop in finfish production, the Atlantic provinces saw a remarkable turnaround. Leading the way, New Brunswick experienced an astonishing 137.5% increase in finfish production, overcoming previous environmental and biological challenges.
This surge contributed to a record high in the value of farmed finfish in Atlantic Canada, with the average price climbing 25.8%. The region’s success underscores its critical role in the national aquaculture landscape, showcasing its ability to adapt and thrive under changing conditions.
A Resilient Industry with a Global Reach
The rise in New Brunswick’s production came during a year when export quantities of farmed Atlantic salmon—Canada's largest aquaculture export—declined by 18% nationally. Despite this, New Brunswick producers maintained strong relationships with key markets like the United States, which accounted for nearly 99% of Atlantic salmon exports by volume.
Export prices for Atlantic salmon rose 1.5% to $12.57 per kilogram in 2023, bolstering the sector’s overall stability and creating opportunities for New Brunswick to capitalize on rising demand.
Supporting a Thriving Maritime Economy
This success reflects not only the resilience of New Brunswick’s aquaculture industry but also its vital contribution to the province's economy and cultural richness. Aquaculture provides employment and supports coastal communities, reinforcing New Brunswick’s reputation as a leader in sustainable seafood production. Cooke Aquaculture is one of the largest aquaculture employers in New Brunswick, employing over 2,300 individuals in various roles throughout the Atlantic provinces. This family-owned company is headquartered in Blacks Harbour, NB, and is a significant player in the region's salmon farming industry, which is a major part of New Brunswick's aquaculture sector.
Another notable employer in the sector is True North Seafood, part of the Cooke Aquaculture group, which has made significant investments in expanding its processing capacity in St. George, NB. This expansion is aimed at improving productivity and responding to market demands, further solidifying its position as a key employer in the region.
As the province continues to recover from previous industry challenges, its growth signals brighter days ahead for the aquaculture sector. This progress highlights the ingenuity and hard work of local producers who ensure New Brunswick remains a key player in Canada’s aquaculture story.
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