Canadian Dollar Causing More Pain For Fishers

Canadian Dollar Causing More Pain For Fishers

Friday, September 21, 2007 at 14:27

The president of the Freshwater Fish Marketing Corporation admits the surging Canadian loonie is hurting his organization’s bottom line.

John Wood says fishers will likely notice they’re getting a few dollars less than they used to, now that the once-favourable exchange rate with the U.S. dollar has essentially disappeared.

He adds the corporation is doing its best to cut costs and boost production — but the challenge is daunting.

Wood notes the loss of the favourable exchange-rate with the U.S. is something that impacts everyone that exports goods.

He believes the FFMC will have to learn to live with a Canadian dollar that is on par with the American one for a long time.

Wood says the FFMC is also short of whitefish right now, but he is still hopeful it will be a good year.