Gail Shea refuses to budge on inshore shrimp cuts and LIFO policy
Canada’s Federal Fisheries Minister Gail Shea said she will not change her department’s decision to cut the shrimp catch in Newfoundland that will heavily impact the inshore industry. Shea also defended the “last in, first out” policy saying the government has been fair to people who have worked in the industry for the longest period of time. The Minister’s position was blasted by opposition leaders who say the quota cuts are unfair to the inshore industry and will likely result in bankrupt harvesters and plant closures.
Marine Harvest said it will challenge a $26 million fine from the EU Commission over allegations the Norwegian salmon producer violated merger and acquisition laws when it acquired a stake in Morpol back in 2012. The EU claims Marine Harvest did not properly notify officials of the deal. Marine Harvest says it followed correct procedures and will likely challenge the fine in court.
In other news, with “new shell” or soft Maine lobster landings now hitting the market, prices are poised to decline heading into August. This year, Maine new shell landings were a bit delayed due to colder waters. But with moltings now underway, more supply of the lower priced product should drive down the market to seasonal lows reported over the last half of the summer in recent years.
Finally, Alaska’s statewide salmon harvest is now over 71 million fish as the Bristol Bay catch is 70 percent over the pre-season forecast at 28 million fish. So far, Copper River sockeye prices are holding up in markets across the Pacific Northwest despite heavy competition from Bristol Bay sockeye.
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