Fisheries and Aquaculture
April 4, 2014

Successful Crab Price Negotiation Supports a Vibrant Economy

Minister Congratulates the Fishing Industry for Achieving Timely Agreement

The Honourable Keith Hutchings, Minister of Fisheries and Aquaculture, extended congratulations today to the fishing industry for quickly and successfully setting a price for crab.

“Crab is the single most important species within the provincial fishery, and so I congratulate the industry for agreeing upon a minimum snow crab price of $2.30 per pound after brief and efficient negotiations. We anticipate strong snow crab markets, a favourable foreign exchange rate, and a quota allocation similar to last year for most areas, and given this competitive price, the conditions are in place for a great season in the crab sector.”
-The Honourable Keith Hutchings, Minister of Fisheries and Aquaculture

The negotiating parties, the Fish, Food and Allied Workers and the Association of Seafood Producers, agreed on a minimum snow crab price last week, and without needing to avail of the Provincial Government’s Standing Fish Price Setting Panel. In addition to the Fish Pricing Panel, the Provincial Government assists in the negotiation process through the collection of market information from various sources including external market consultants.

QUICK FACTS

• Price for snow crab has been set for the season at $2.30 per pound.
• This year’s price is a large improvement over last year’s starting price of $1.83.
• Snow crab accounted for more than 45 per cent of the landed value of shellfish in Newfoundland and Labrador in 2013.

-30-

Media contact:
Jason Card
Director of Communications
Department of Fisheries and Aquaculture
709-729-3733, 699-0470
jasoncard@gov.nl.ca
 
2014 04 04            3:55 p.m.