The shrimp industry in New Brunswick, Canada, is on the brink of collapse as shrimpers grapple with dwindling stocks and financial uncertainty. Faced with the looming threat of bankruptcy, many are considering drastic measures to stay afloat.

Redfish Fishery Offers Little Respite

With shrimp stocks collapsing in recent years, shrimpers had pinned their hopes on the revival of the redfish fishery, which has been suspended for nearly three decades. However, the allocation of a mere 10% of the redfish quota by Fisheries and Oceans Canada has dashed any hopes of respite for the struggling shrimping community.

A recent gathering of shrimpers in Shippagan painted a somber picture of the industry’s future. With discussions revolving around financial hardship and the prospect of bankruptcy, there was little optimism to be found among attendees. The meeting, much like its predecessors, offered little in the way of solace for those facing dire economic circumstances.

Survival in Question

Despite their resilience, shrimpers are increasingly doubtful about their ability to weather the storm. The allocated portion of the redfish quota is deemed insufficient to sustain their operations, leaving many with no viable path forward. The prospect of selling their boats, once their livelihood and source of pride, now looms large as a last resort to avoid financial ruin.