The following statement was read in the House of Assembly today by the Honourable Lisa Dempster, Minister of Fisheries, Forestry and Agriculture:

Speaker, the Newfoundland and Labrador lobster fishery is in a time of growth and potential, never seen before.  From 2015 to 2024, lobster landings increased by 263 per cent, from 5.7 million pounds to 20.7 million pounds. The landed value of lobster increased substantially from $30.7 million to $136.6 million.

This government has invested over $12 million towards live holding facilities, grading, processing, and packaging systems. We invested $2.3 million in a live holding and cold storage facility that is under construction at the Gander International Airport and will help access markets for live lobster in Europe and Asia.

Through Budget 2025 our government is investing $5.75 million in new technology, processes, infrastructure, and innovation throughout the fishing industry.

We are investing in industry-led projects that will advance the lobster industry and are supporting research and development initiatives, new lobster harvesting and processing technology, traceability and eco-certification, training, and other activities to drive the sector forward.

Speaker, the lobster fishery is the backbone of many Newfoundland and Labrador rural communities.  We are proud to leverage opportunities to add value to our fishery resources, support the people of this province who rely on this industry, and diversify our markets.

Thank you.