Canadian government invests in aquaculture

May 22, 2015

Investment will equal close to $2.5 million

Aquaculture is an ever growing industry and news out of Prince Edward Island shows that the Canadian government is taking notice and doing their part to help it continue to grow.

Gail Shea, Minister of Fisheries and Oceans, Regional Minister for Prince Edward Island and who is also the Member of Parliament for Egmont announced a government investment of nearly $2.5 million to the Canadian Aquaculture Industry Alliance (CAIA).

The CAIA will use the monies to perform market research, attend international trade shows and lead missions to make potential trade partners aware of Canada’s farmed seafood including salmon, mussels sablefish sturgeon and oysters.

The primary international targets are the United States, Asia and Europe.

"Aquaculture represents nearly 50% of seafood consumed worldwide,” Minister Shea said. “Thanks to our Government ambitious free trade agenda, economic opportunities for this sector are greater than ever. We are proud to support this industry in their efforts to market and promote high-quality products to key international markets while creating employment opportunities and economic growth in rural, Aboriginal and coastal communities.”

Canada’s aquaculture industry at a glance:

85% of Canada’s aquaculture is exported at an estimated total value of $576 million
Canada ranks 26^th in world aquaculture in terms of production and is the 4^th largest salmon producing country
Total sales of fish and seafood in 2014 was $4.9 billion – up from $517 million in 2013

Salmon

Tell us your thoughts on the Canadian government investing close to $2.5 million into the country’s aquaculture sector. As a fish farmer does it encourage you to know your products will be showcased worldwide?

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!