Minister Bragg Acknowledges 30th Anniversary of Cod Moratorium

The Honourable Derrick Bragg, Minister of Fisheries, Forestry and Agriculture would like to acknowledge the 30th anniversary of the cod moratorium.

On that well-known day of July 2, 1992, Newfoundland and Labrador was impacted irreversibly. For many, everything changed. The traditional way of life that had been centred around cod-fishing for nearly 500 years could not continue; people began to comprehend the vulnerability of the marine environment; and some turned to other industries such as trades or tourism to make their living.

In the 30 years since the moratorium began, Newfoundland and Labrador’s fishing industry has undergone a profound shift, from an industry driven mainly by groundfish such as cod, to one driven by shellfish. This shift was not solely due to low cod populations and fishing restrictions; it was also due to the growth and availability of other species such as crab and shrimp. Even as some groundfish stocks have been in moratoria, the fishing industry has continued to contribute significantly to the economy.

Today, there are approximately 17,000 seafood workers in 400 communities that rely on the fishery for their livelihood. Last year, the fishing season was one of the most successful in history, reaching over $1 billion in value.

To protect the fisheries and develop the seafood resources, the Provincial Government has continued to cultivate positive relationships with the Federal Government and a vast array of other partners. Together, industry, university, governments, and other stakeholders are building scientific programs that identify information gaps that contribute to a sustainable industry. Through investments in scientific research and shared funding, many people in many organizations are working hard to prevent resource declines such as the cod moratorium from occurring again.

The Provincial Government continues to encourage diversification by investing in innovation and new technology; enhancing seafood quality; advancing Newfoundland and Labrador’s reputation in the global marketplace; and encouraging international competitiveness. All this and more is provided through important funding opportunities such as the $325 million Atlantic Fisheries Fund. In provision of the Fund, the Provincial Government has allocated $4.8 million through Budget 2022. Funding partners are helping Atlantic Canada’s seafood sector transition to meet growing market demands for high quality products.