Newfoundland's Area 6 Shrimp Quotas Slashed 42%, Inshore Sector Allocated 70% of Harvest
The total 2016-17 Northern Shrimp quota in Newfoundland's Shrimp Fishing Area 6 was cut 42 percent to 27,825 tons according to Canada's Department of Fisheries and Oceans (DFO). The quota will be shared between the offshore and inshore sectors. Offshore trawlers were allocated 23 percent of the quota while the inshore fleet was given 70 percent of the volume. The remainder of the sharing arrangement for the northern shrimp stock will see almost 4.5 per cent of the quota go to St. Anthony Basin Resources Inc. (SABRI), nearly two per cent to the Innu and about one per cent to Fogo Island shrimp fishermen.
James Iacino, President and CEO of Seattle Fish Co. was named Entrepreneur Of The Year 2016 in the family business category for the Mountain Desert region by Ernst and Young. Iacino is the grandson of Mose Iacino, founder of Seattle Fish Co. and represents the third generation of the family to own and operate the company. “I am humbled and honored for this incredible recognition and proud of our passionate and dedicated team that continue to drive our growth and work hard to sustainably feed people every day,” said Iacino.
In other news, the US restaurant sector saw its second quarter sales fall 0.7 percent in June according to data from TDn2K Black Box Intelligence. Same-store sales in June fell 1.1 percent, compared with flat sales growth during May. Since the beginning of the year, positive sales growth for restaurants was only reported in February.
Meanwhile, Newfoundland scallop harvesters in Grand Bank blocked access to Clearwater Seafoods this morning. The harvesters want answers from the Fish, Food and Allied Workers union and the DFO about access to scallop beds on St. Pierre Bank.
Finally, fishmeal prices in Peru and Chile are down with production up in 2016. In May, prices for Chilean and Peruvian fishmeal were at their lowest levels since 2014. Production from both regions is up this year. Peruvian production is expected to finish the year up 7 percent to 900,000 metric tons according to a Scotiabank report.
Have a great weekend.
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