Newfoundland shrimp processors on Tuesday announced they will remain idle until the economic climate "improves significantly."
Deeming it "an unprecedented situation," the processors blamed the shutdown on an unfavorable exchange rate, poor market conditions and high raw material costs. However, the processors remain hopeful that a resolution will be found that satisfies processors, as well as harvesters and buyers.
Newfoundland represents the bulk of Canada's annual northern shrimp (Pandalus borealis) catch. The province's 2009 quota is set at 199,297 metric tons, and as of Monday only 12,901 metric tons had been harvested.
Newfoundland's shrimp processing plants employ more than 3,000 workers.
The province's shrimp processors include the Barry Group, Cold North Seafoods, Fogo Island Co-op Society, Gulf Shrimp, Labrador Choice Seafoods, Notre Dame Seafoods, Northern Shrimp Co., Ocean Choice International, St. Anthony Seafoods Ltd. Partnership (Clearwater), Quinlan Brothers and Quin-Sea Fisheries. All are members of the Newfoundland Association of Seafood Producers.
