A new report from the World Bank suggests that while the industry is thriving, the world’s largest producer is still struggling.
The group, which is focused on the Pacific Rim region, found that in the past decade, the seafood industry has lost more than 60 per cent of its capacity in the region.
In the Pacific, the sector employs more than 2.3 million people.
The report, titled Pacific Oyster Processing and Marketing, examined more than 30 years of data and found that the sector is in a crisis, according to the Associated Press.
The report says that in 2013, the industry lost nearly 3 million tonnes of oyster shell.
That’s the equivalent of nearly a fifth of all the oysters produced worldwide.
The region’s fishery, however, is still a lucrative one.
“The oyster fishery is a major source of income for many small fishing communities in the Pacific and is essential to supporting the livelihoods of thousands of people across the region,” the report said.
Yeast processing plant is set to be the next to close in May The Pacific Northwest oyster farming industry is set for a massive shutdown in May.
The closure, the first in decades, will affect millions of oysters harvested in the Northwest.
The closures come as the Northwest is already facing the effects of the Pacific Northwest’s ongoing wildfires, the worst in US history.
A spokeswoman for the Oregon Department of Fish and Wildlife told the Associated News that the shutdown will not affect fishing.