Newfoundland Harvesters Win Arbitration on Shrimp, Nflnd and Greenland Begin Shrimp Market Project
SEAFOODNEWS.COM by John Sackton April 22, 2015
The Newfoundland price arbitration panel selected the harvesters' offer of $1.40 per lb. for a blended price for coldwater shrimp, rejecting the $1.28 offered by the Province's shrimp processors.
Newfoundland uses a best offer selection system. The panel can only choose one number or the other, they cannot suggest a compromise price.
The price represents a significant increase from last fall, when the blended price was $CA 1.08.
With little global production yet and a dry market, shrimp prices heard at the Brussels Show continued to be very high, but customers were reacting to the current price levels by cutting their orders and buying hand to mouth.
Only a small portion of Newfoundland shrimp is produced in the 2nd quarter...
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