November 2015

This text, by Mr. Pierre Patenaude, President of Oceatec , was originally published on the Opinion pages of the Navigator Magazine.

Mr. Bob Verge, managing director of the Canadian Centre for Fisheries Innovation (CCFI) has written a very interesting series of article about the cod fisheries recovery.

Mr Verge has painted an instructive portrait of the past of this fishery, of the current situation and of the conclusions to be drawn of mistakes from the past. He prepared a synthesis and a description of the new opportunities.

The possibility to also develop highly added value products derived from cod and from its process residue should be added to his reflection.

To illustrate these opportunities, a reference should be made to a presentation prepared by Dr. Thor Sigfusson of The Iceland Ocean Cluster in a webinar presented by SeafoodSource.com and entitled Waste not: Financial opportunities in Seafood by-products.

Dr. Sigfusson’s presentation showed, among other topics, that certain parts of the cod, that could be considered as residues, such as its liver, its intestine, its bones and its skin, can be transformed into products which have a value, in dollars per pound, much higher than the value of the flesh.

These products are intended for the food, the nutraceutical and the pharmaceutical industries. These added value products lead to increasing the value of each fish taken from the sea.
They can also lead to developing new markets for exportation. But they are also opportunities for the start-up of new companies here in Canada, for the development of new added value products by Canadian research centers, and for the design of the equipment required to perform this processing.

The conference planned by CCFI and announced by Mr. Verge in one of his articles could be a great opportunity to also explore these new avenues.