There will be a commercial cod fishery this year, the first one since the 1992 moratorium.

The federal government has labelled it a “historic decision.”

The total allowable catch will be 18,000 tonnes—that’s about 8,000 tonnes less than what harvesters were seeking.

The fishery will apply to 2J3KL, an area which stretches from Labrador down to the Avalon Peninsula. Most of the quota goes to the inshore fleet with almost 7 per cent going to Indigenous and 3 per cent for NunatuKavut. The offshore fleet gets 6 per cent.

Ottawa says the “responsible reopening” will generate economic benefits for the province—including jobs.

(Federal Fisheries Minister Diane Lebouthillier.)

Federal Fisheries Minister Diane Lebouthillier says they will “cautiously but optimistically” reopen the fishery, with the prime beneficiaries being coastal and Indigenous communities.

Meanwhile, government is also making moves on the recreational groundfish fishery.

Last week, details of this year’s fishery were announced.

Ottawa says they intend to eliminate the catch and release aspect of tour boat operations, and introduce a tagging regime starting in 2025.

Consultations will start in the fall on that aspect.