Leading Canadian seafood processor Fishery Products International is to join the growing number of those halting production in response to high prices demanded by crabbers.
FPI, North America’s largest supplier of seafood products, said it would suspend operations at four crab and shrimp plants in Port aux Choix, Bonavista, Triton and Port Union. This could lead to the layoff of as many as 7000 plant workers and as many fishermen.
“We have stayed open as long as we could,” said company CEO Derrick Rowe, adding that there is too much processing capacity and not enough raw material, and the industry is not sustainable, reported the Montreal Gazette.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData