Northern cod fishery delivers growing economic benefits as quota set to rise in 2026

The Northern cod fishery is generating increasing economic benefits for Newfoundland and Labrador, with exports, employment and landed values all rising as the stock continues its recovery.

According to Fisheries and Oceans Canada, Northern cod landings reached 32,700 tonnes in 2025, more than double the levels recorded when the commercial fishery reopened. The fishery generated an estimated landed value of $75 million last year.

Northern cod accounted for six per cent of the province's total landed value in 2025, up from four per cent in 2024.

The fishery supported approximately 1,175 fishing enterprises in 2025, employing thousands of crew members throughout Newfoundland and Labrador. Hundreds of additional jobs were supported in fish processing plants and related industries.

There were 34 licensed processing facilities producing cod products in the province last year. The processing sector provides employment in many rural and coastal communities, particularly during periods when activity in other fisheries is limited.

International demand for Newfoundland and Labrador cod also strengthened in 2025.

The province exported nearly 8,200 tonnes of cod products valued at approximately $80 million, compared with about 3,800 tonnes worth nearly $40 million in 2024.

The United States was the largest export market, accounting for 24 per cent of cod exports, followed by the United Kingdom at 22 per cent. Other key markets included Denmark, Portugal, France and the Netherlands.

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The positive economic outlook comes as the federal government increases the 2026 Northern cod total allowable catch to 59,000 tonnes, up from 38,000 tonnes in 2025.

Officials estimate the larger quota could boost the fishery's landed value to as much as $200 million during the 2026-27 season under favourable market conditions.

Under the new management plan, the inshore fleet will receive 70 per cent of the quota, or 41,300 tonnes. Offshore and midshore fleets will receive a combined 20 per cent share, equivalent to 11,806 tonnes, while Indigenous and special allocations will account for the remaining 10 per cent, or 5,895 tonnes.

The federal government says the increased quota and revised allocations are expected to provide additional economic benefits for Indigenous partners, harvesters, plant workers and coastal communities while maintaining a sustainable approach to managing the recovering stock.