09:37 AM EDT, 06/26/2024 (MT Newswires) -- The federal government has lifted a Northern cod moratorium off the north and east coasts of Newfoundland and Labrador, ending a ban imposed in 1992 that devastated coastal communities and the regional economy, The Globe and Mail is reporting Wednesday.

In a statement Wednesday, federal fisheries minister Diane Lebouthillier announced conditions for a small commercial Northern cod fishery in an area collectively known as the Northwest Atlantic Fisheries Organization divisions 2J3KL, which historically was one of the largest cod fisheries in the world before it was nearly wiped out by overfishing.

The 2J3KL commercial fishery will have a total allowable catch of 18,000 tonnes for the 2024 season, Ms. Lebouthillier said. The inshore fleet sector will receive about 84 per cent of that total catch, with 20 per cent of the inshore allocation going to harvesters in the 2J area, one of three that make up the 2J3KL divisions. Six per cent of the total allowable catch will be allocated to the Canadian offshore fleet, Ms. Lebouthillier said.

Openings for the commercial fishery are expected to be announced in July.

The change amounts to a small increase to a stewardship fishery that has been in place since 2006. The total allowable catch for that fishery in 2023 was 12,999 tonnes.

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