ATLANTIC CANADA SEAFOOD SECTOR

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Emory Augustus Jefferson
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1 ATLANTIC CANADA SEAFOOD SECTOR EXPORT DEVELOPMENT PLAN JANUARY 2018

2 THE ATLANTIC GROWTH STRATEGY A new all-inclusive, pan-atlantic, whole-of-government approach will harness the region's assets to: identify shared economic priorities and collaborate on the design and implementation of actions emphasize region-wide measures align actions with national and provincial priorities engage and consult with the region's stakeholders, entrepreneurs, as well as Indigenous, community and industry leaders monitor progress and report publicly on results Together, the federal and provincial governments are playing the long game - sustainable prosperity in Atlantic Canada for generations to come. SOURCE:

3 THE PATH TO PROSPERITY CANADIAN ADVISORY COUNCIL ON ECONOMIC GROWTH In 2016, the Minister of Finance convened the Advisory Council on Economic Growth. THE MISSION: to examine long-term prospects for the economy, make bold recommendations to drive inclusive growth and help the government put ideas into action. DETAILED RECOMMENDATIONS 06 FEBRUARY 2017: 1. Unlock innovation to drive scale and growth 2. Build a skilled and resilient workforce with a FutureSkills Lab 3. Unleash the growth potential of key sectors.. We have highlighted the agriculture and food sector as one example where Canada has the potential for substantial growth and export improvement and the opportunity to become the trusted global leader in safe, nutritious, and sustainable food for the 21st century. The Council recommends piloting this new approach to sectoral development in agfood, and then replicating it in five to seven other high-potential sectors. SOURCE :

4 OBJECTIVES SEAFOOD SECTOR EXPORT TEAM

5 OBJECTIVES The Seafood Sector Export Team will create the Priority Plan for: Increasing the VALUE (doubling?) of Atlantic Canada Seafood Exports Increasing Atlantic Exports and their VALUE through Market Diversification; Increase Capital Investments in Atlantic Canada.

6 ATLANTIC SEAFOOD EXPORTS PROFILE VOLUME & VALUE

7 250,000 Atlantic Provincial Seafood Exports MT NL NS PE NB 200, , ,000 50, Source: Statistics Canada International Trade Division -

8 $2,000 Atlantic Provincial Seafood Exports $C Million NL NS PE NB $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $ Source: Statistics Canada International Trade Division -

9 EXPORT MARKETS WHAT DO WE EXPORT?

10 Atlantic Canada Top Seafood Exports $C Million NEWFOUNDLAND & LABRADOR NOVA SCOTIA PRINCE EDWARD ISLAND NEW BRUNSWICK Species Value Species Value Species Value Species Value Snow Crab $ 415 Lobster $ 953 Lobster $ 222 Lobster $ 806 Salmon $ 263 Crab $ 225 Mussels $ 43 Salmon $ 425 Shrimp $ 227 Scallops $ 141 Snow Crab $ 16 Crab $ 161 Turbot $ 60 Shrimp $ 113 Oysters $ 13 Herring $ 72 Capelin $ 35 Halibut $ 81 Sardine $ 20 Cod $ 21 Fish NES $ 72 Scallop $ 17 Mussels $ 14 Cod $ 31 Shrimp $ 11 Herring $ 13 Molluscs $ 31 Marine Plants $ 8 Eel $ 23 Sea Urchin $ 5 Swordfish $ 20 Oyster $5 Source: Statistics Canada, CATSNET Analytics, Provincial Reports

Canada s Top 10 Fish & Seafood Exports 2016 - $C Million 2,500 2100 2,000 1,500 1,000 967 810 500 465 285 179 163 103 97 90 0

11 Canada s Top 10 Fish & Seafood Exports $C Million 2, ,000 1,500 1, Lobster Atl Salmon Snow/Queen Crab Shrimp/Prawn Crab (Other) Scallop Herring Clam Grnland Halibut Hake SOURCE: DFO, Stats Canada, AAFC

12 EXPORT MARKETS WHERE DO WE EXPORT?

Canadian Seafood Exports By Major Markets 1990-2016 - $C M C. & S.

$6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- 1990 1995 2000 2005

13 Canadian Seafood Exports By Major Markets $C M C. & S. America EU Japan Other EU South Korea Hong Kong China USA $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $ Source:

14 Canadian Seafood Exports Excluding USA - $C M C. & S. America EU Japan Other EU South Korea Hong Kong China $2,500 $2,000 $1,500 $1,000 $500 $ Source:

15 ATLANTIC SEAFOOD INDUSTRY SURVEY & INTERVIEW RESULTS

16 WHAT SEAFOOD SECTOR DO YOU REPRESENT? ASSOCIATION FARMER HARVESTER MARKETER / SELLER / BROKER PROCESSOR SHIPPER PHARMACEUTICAL CONSULTANT (PROCUREMENT)

17 WHAT PERCENTAGE (%) OF YOUR SALES ARE INTERNATIONAL EXPORTS? % 25-50% 50-75% %

18 WHAT TOOLS / TACTICS HAVE YOU FOUND BENEFICIAL TO YOUR CURRENT EXPORT PROGRAM? IMPORTANT VERY IMPORTANT CRITICALLY IMPORTANT Translation Services Trade Comm Services News / Media Releases Chefs Promotions / Events Retail Promotions Foodservice Promotions Inbound Missions Export Cafes Trade Shows Targeted Country Missions Enhanced Export Trade Training Access Market Res & Intel MKT'ING Materials (Dir, Broch..) Webinars E-Newsletters Social Media Online Sales Website

Policy & Regulatory Issues Lack of a Growth Strategy Lack of Financial Resources Export Trade Training Access to Operating / Production Labour Access External Export Know-how & Lack of Internal

Knowledge of Distribution Channels Access to Production Technology Access to Product Types Access to Product Volumes Local Staff (business, culture, social) Local Partner(s) (political, legal &

19 Policy & Regulatory Issues Lack of a Growth Strategy Lack of Financial Resources Export Trade Training Access to Operating / Production Labour Access External Export Know-how & Lack of Internal Mgmt / Sales Expertise Certification & Sustainability Issues Product Pricing Knowledge (In Market) Costs of Market Access & Servicing Knowledge of Competitors Knowledge of Potential Customers Knowledge of Distribution Channels Access to Production Technology Access to Product Types Access to Product Volumes Local Staff (business, culture, social) Local Partner(s) (political, legal & Local Knowledge (the business/market) Access Market Res & Intel NOT APPLICABLE TO OUR COMPANY WHAT IS LIMITING YOUR ABILITY TO INCREASE EXPORTS? VERY LIMITING CRITICALLY LIMITING

20 CANADIAN TRADE COMMISSIONERS SURVEY & INTERVIEW RESULTS

21 WHAT TOOLS / TACTICS ARE NEEDED BY CANADIAN SEAFOOD COMPANY'S TO INCREASE THEIR EXPORTS? VERY IMPORTANT CRITICALLY IMPORTANT Translation Services Trade Comm Services News / MEDIA Releases Chefs Promotions / Events Retail Promotions Foodservice Promotions Inbound Missions Export Cafes Trade Shows Targeted Country Missions Enhanced Exp Trade Training Access Market Res & Intel Mkt'ing Material (Dir/Broch) Webinars E-Newsletters Social Media Online Sales Website FTA Knowledge

22 Export Market Opportunities Global Fish & Seafood

Top 20 Seafood Importing Countries By Value 2016 - $US 000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000

23 Top 20 Seafood Importing Countries By Value $US 000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 SOURCE: UN / WTO International Trade Centre

Global Middle Class Growth MIDDLE EAST &

24 Global Middle Class Growth MIDDLE EAST & AFRICA 8% LATIN AMERICA 10% ASIA 28% NORTH AMERICA 7% MIDDLE EAST & AFRICA 7% LATIN AMERICA 6% ASIA 66% 2009 EUROPE 14% 2030 NORTH AMERICA 18% EUROPE 36% Source: Brookings Institute, The World Bank, International Money Fund

25 European Seafood Market CONSUMERS: IMPORTS: 510 Million Consumers. $C 36.2 Billion In World s Largest Importer Of Seafood. 27% Of The World s Total Fish And Seafood Imports. CONSUMPTION: Imports Account For 52.5% Of Total EU Seafood Consumption. PER CAPITA: Per Capita Average Annual Consumption Of 25.6 Kg (2015). OPPORTUNITY: Increase Canadian Seafood Exports Of $C 555 Million (2016). Increase Current Share, 1.5% Of $C 36.2B EU Seafood Market. Source: ACFFA &

26 China Seafood Market CONSUMERS: 1.4 Billion Consumers. IMPORTS: $C 11.2 Billion Global Imports In CONSUMPTION: Imports 9% Of Total Seafood Consumption. PER CAPITA: Per Capita Average Annual Consumption Of 37.9 Kg (2013). OPPORTUNITY: Increase Canadian Seafood Exports Of $C 716 Million (2015). Increase Current 6.4% Share Of $C11.2 Billion Seafood Market. Source: FAO &

27 USA Seafood Market CONSUMERS: 325 Million Consumers IMPORTS: $C 24 Billion Global Imports (2015) CONSUMPTION: Imports 90 % Of Total Seafood Consumption PER CAPITA: Per Capita Average Annual Consumption 14.9 lbs (2016) OPPORTUNITY: Increase Canadian Seafood Exports Of $C 4.2 Billion (2016) Increase Current 17% Share Of $C 24 Billion Market.

Global Salmon Market Growth 2017-2021 - Supply & Demand MT Demand 3% Growth Supply 3% Growth 2021 2,403,175 2,967,742 2020 2,333,180 2,881,303 2019 2,265,223 2,797,381

28 Global Salmon Market Growth Supply & Demand MT Demand 3% Growth Supply 3% Growth ,403,175 2,967, ,333,180 2,881, ,265,223 2,797, ,199,246 2,715, ,135,190 2,636, ,073,000 2,560, ,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 Source: Kontali, Statistics Canada

CANADA-KOREA FREE TRADE AGREEMENT

CANADA-KOREA FREE TRADE AGREEMENT Creating Jobs and Opportunities for Canadians Provincial and Territorial Benefits Her Majesty the Queen in Right of Canada, 2014 All requests for permission to reproduce