Media Statement: Update Port aux Choix
July 20, 2022
Ocean Choice is committed to our employees and operations in rural areas of the province, including Port aux Choix. When there is uncertainty surrounding the industry, we understand the stress and strain this causes families who rely on the fishery for their livelihoods and communities that depend on the fishery to drive their local economies.
We take our responsibility to our people and the communities in which we operate extremely seriously; it is what drives every single one of our actions.
Ocean Choice has been in a position to purchase shrimp to process at our facility in Port aux Choix since the Standing Fish Price-Setting Panel announced the minimum price for summer shrimp in late June. It has been the decision of harvesters to not fish at the price set by the panel.
After careful consideration, we feel it is in the best interest of our employees and the inshore harvesters that we work with to ensure the summer shrimp fishery gets underway. It is also important to maintain our position in the market and with long-standing customers by supplying cooked and peeled shrimp. For these reasons, we will start purchasing shrimp in the coming days at a competitive price above the minimum price set by the panel.
We understand all too well with inflation and the price of fuel and other supplies on the rise, it is becoming more costly to operate. We are also feeling these impacts across our entire operations, as is the entire fishing industry. In addition, over the last several years there has been a steady decline in raw material availability, impacting the viability of shrimp operations.
While it is acceptable for harvesters to choose not to fish when they feel prices do not make economic sense for their business, there is an expectation by the FFAW that processors should continue to process shrimp at a loss, which is a challenge that the sector has been facing for the past few years. This approach and model is not sustainable and is one that needs to be addressed.More about Ocean Choice International