In the vibrant tapestry of Newfoundland and Labrador’s fishing industry, Danny Dumaresque, owner of Labrador Gem Seafoods, sees a pressing need to venture into European markets. While others engage in discussions about American tariffs affecting Canadian seafood exports, Dumaresque embarks on journeys abroad searching for new buyers, realising that diversification requires fundamental changes at home. The looming threat of tariffs from the U.S. and China is nudging local fisheries to explore economically favourable nations.
Dumaresque plans to attend the Seafood Expo North America in Boston, aiming to highlight how tariffs could inflate prices for American consumers, consequently reducing fish purchases in grocery stores and restaurants. This ripple effect poses significant risk to local processors and workers, as profit margins in the industry are razor-thin, hovering around five per cent. The spectre of impending tariffs continues to loom, casting shadows of uncertainty over the future of Canadian seafood.
Change, he insists, is paramount. To bolster the industry, Dumaresque emphasizes the necessity for substantial government investment in new infrastructure, particularly a transshipment facility in Gander. This facility could serve as a vital base for shipping fresh, live, and frozen seafood primarily to Europe, a market that, with its proximity, boasts a population of 400 million and an insatiable appetite for seafood.
He cites MercaMadrid in Spain, a bustling marketplace where fresh and live seafood commands the stage, as an example of the thriving demand in Europe. Dumaresque envisions Gander as a competitive advantage over shipping points like Halifax due to its proximity and potential for superior quality product. He perceives a golden opportunity for live lobster exports to Europe, suggesting it could rival offerings from other nations.
In Europe, seafood dining customs, like serving whole fish, contrast with local processing norms in Newfoundland and Labrador, where regulations restrict maximum processing. Dumaresque acknowledges that adjustments must be made to embrace these preferences and establish a more significant footprint in European markets.
Preparing for a return to Spain for the Seafood Expo Global, Dumaresque is eager to connect with prospective buyers and secure contracts. He has turned his back on the uncertain Asian markets, especially after China announced tariffs, opting instead to explore the growth potential in Mexico where seafood consumption is on the rise.
As Dumaresque prepares for discussions with the Canadian consulate in Mexico, he is optimistic about future business prospects, focusing on leveraging opportunities both locally and in North America, while keeping an eye on developing European relations.
Danny Dumaresque of Labrador Gem Seafoods advocates for expanding Newfoundland and Labrador’s seafood market into Europe amidst looming American and Chinese tariffs. He emphasises the need for significant infrastructure investment, particularly a transshipment facility in Gander, to support fresh seafood exports. As he prepares for Seafood Expo Global in Spain, Dumaresque also eyes potential growth in Mexico’s seafood consumption, steering clear of risky Asian markets affected by tariffs.
In conclusion, the future of the Newfoundland and Labrador seafood sector hinges on its ability to diversify markets beyond traditional boundaries. Danny Dumaresque’s proactive approach highlights the pressing need for infrastructure development and strategic exploration of opportunities in Europe and Mexico. While the challenges posed by tariffs loom large, the adaptability and innovative spirit within the industry can steer it towards new horizons.
Original Source: www.saltwire.com
