Federal help coming for P.E.I. oyster fishery, with buyback program in the works, MP says

Egmont MP Bobby Morrissey says federal help for Prince Edward Island's struggling oyster fishery is expected early in the new year.

The industry has been hit hard by MSX, a parasite first discovered on the Island in July 2024. Another disease, dermo, was also detected in the province's waters this summer.

Neither disease poses a risk to humans, but both can be fatal for oyster populations.

While more support from Ottawa is on the way, Morrissey said changes will be required before that help rolls out.

"Simply saying we don't want to change anything but we want government to support us. That's status quo. That's not going to work,” Morrissey told CBC News.

“If you look at any area that has dealt with this... naturally occurring parasite, those industries are now thriving. Oysters are thriving in areas that were literally wiped out from dermo and MSX. So there's no reason why P.E.I. should not be able to follow the same road.”

Part of the federal government’s plan includes restructuring the fishery, potentially by launching a buyback program to get some people out of the industry.

Bob MacLeod, president of the P.E.I. Shellfish Association, said some fishers would be interested in that.

“Some of the older fishermen are reaching out that they would like to get out,” MacLeod said. “We're hoping that's part of the restructure.”

But MacLeod said some in the industry are also calling for additional supports, like financial assistance to run programs that would employ fishermen to clean up beds where oysters have died off — something that could help to restore and maintain habitat for future stocks.

Last week, the P.E.I. government announced about $9.2 million in new funding to provide what it calls “short-term relief” for oyster growers and processors facing losses linked to oyster disease. That brings the province’s total support for the sector to more than $12 million.

One initiative is designed to help growers who have experienced significant income losses due to disease. Grants will be based on a grower’s revenue decline in the current tax year compared to their average earnings over the previous five years.

Another program aims to reduce financial risk for processors if oysters cannot be sold due to diseases, while encouraging them to continue buying from fishers and growers and keeping the supply chain moving.

MacLeod said the latest funding package does not include support for wild oyster harvesters.