The federal government is ending the moratorium on the northern cod fishery off the northern and eastern coasts of Newfoundland and Labrador after more than 30 years.
The government announces that it is re-establishing a commercial northern cod fishery with a total allowable catch of 18,000 tonnes for the 2024 season.
Fisheries Minister Diane Lebouthillier called the announcement “a historic step” for Newfoundlanders and Labradorians.
According to the government, this is a “responsible reopening” that will benefit the province’s economy and the commercial fishing and processing industry.
“It is by working together that we have reached this moment. We will revitalize this fishery with caution but optimism, with the main beneficiaries being the coastal and Indigenous communities of Newfoundland and Labrador,” said Minister Lebouthillier in a press release.
The northern cod population of Newfoundland and Labrador collapsed in the early 1990s.
The federal government closed the fishery in 1992 in an effort to protect declining stocks and give them time to rebuild.
The moratorium eliminated tens of thousands of jobs and transformed the province’s economy and demographics.
To watch on video