Ottawa-based Canadian Aquaculture Industry Alliance today announced the country's aquaculture industry has expanded to include Atlantic cod, Atlantic halibut, Arctic char and sablefish.
The farmed Atlantic cod industry is in development, while char, halibut and sablefish are in various stages of commercialization, with product already on the market in the European Union, United States and Canada.
With operations in Newfoundland and New Brunswick, Canada harvested its first commercially famed cod in 2003 and has been selling small quantities to restaurants and wholesalers in the United States and Canada since 2004. The species is predicted to reach annual production of 128,000 metric tons valued at USD 545 million (EUR 399 million) by 2020.
Canada's Arctic char farmers currently produce 300 metric tons annually and are projected to yield USD 35 million (EUR 26 million) worth of the fish by 2020. Operations exist in the Yukon, Newfoundland, Nova Scotia, Quebec, New Brunswick and Manitoba. The fish is listed as a "best choice" by the Monterey Bay Aquarium.
Canada's Atlantic halibut production is currently valued at USD 3 million (2.2 million), with a 2020 potential of USD 100 million (EUR 73 million). The world's only commercial sablefish farm in British Columbia has reached annual production of 500 tons.
The four species combined are projected to be valued at USD 880 million (EUR 644 million) by 2020.
In the last 20 years, the growing of shellfish and finfish in Canadian waters has become a USD 1 billion (EUR 731 million) industry. Today, aquaculture accounts for one-third of Canada's fishery production, in terms of value. By 2015, the country could increase production to USD 2.8 billion (EUR 2 billion).
The CAIA also released a white paper outlining the current state and future vision of Canada's aquaculture industry.
