Newfoundland Crab Producers Blast Price Panel Ruling; Say Increases Risk of Market Collapse
SEAFOODNEWS.COM [SeafoodNews] April 5, 2017
The Association of Seafood Producers in Newfoundland put out the followingstatement, after the Newfounland Price Setting Panel ruled in favor of the union's proposed minimum crab price of $CA 4.39.
(St. John’s, NL) The Association of Seafood Producers (ASP) says today’s Standing Fish Price Setting Panel decision on raw material crab prices compounds the already bad news on quota cuts, and places the industry at substantial risk of a market collapse.
“The Panel has set crab raw material prices at a historic high, well above any previous level. ASP’s offer to harvesters of $4.10 was rejected and the Panel has gone with the FFAW price of $4.39,” said Derek Butler, Executive Director of ASP.
“The market reports contracted by the province were both clear,” said Butler. “Consumption is reducing, the price has gotten too high, and it is spot pricing in response
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