Farmed salmon harvesting. (Photo: Stock File)
BC salmon farming shows strong growth
Friday, September 29, 2017, 02:50 (GMT + 9)
Salmon aquaculture industry in British Columbia (BC) has achieved an increase of 37 per cent over the past three years in its value to the province, as it was informed by the BC Salmon Farmers Association (BCSFA).
BCSFA bases its findings on an independent economic analysis, which also shows that farming and processing 92,800 metric tonnes of salmon in 2016 resulted in over CAD 1.5-billion towards the BC economy.
In addition, the total GDP generated by the BC farm-raised salmon industry increased 36 per cent from CAD 411.5 million to CAD 557.8 million.
The total employment generated by the B.C. farm-raised salmon industry increased 33 per cent from 4,977 to 6,610 full-time equivalents.
There was also a 39 per cent growth in government taxes generated by the industry, from CAD 62.0 to CAD 86.1 million.
“The full value chain in the salmon aquaculture sector has turned record high prices over much of the past three years into an unprecedented investment in the sector including farming infrastructure, process plants, land-based hatcheries, and marine vessels leading – the net result is an increase in business performance, as well as an increase in environmental and biological performance,” said BCSFA Executive Director Jeremy Dunn.
The association also revealed that on September 18, the Monterey Bay Aquarium Seafood Watch program recognized BC’s industry by changing its recommendation of BC farm-raised Atlantic salmon to “good alternative”.
[1 CAD = USD 0.80617]