N.L. processors ask panel to review snow crab prices

There could possibly be a brand new value for snow crab in Newfoundland and Labardor by Monday, Could 16.

The Affiliation of Seafood Producers (ASP) has made an software to the province’s Standing Fish Value Setting Panel asking for a reconsideration on the minimal value.

The worth was set at $7.60 a pound at first of the season in April.

In a press launch yesterday, Could 12, the Fish Meals and Allied Staff (FFAW) alerted its members that the panel has stated it is going to hear the ASP software.

Below the worth setting guidelines, the pricing panel has 96 hours to make a remaining resolution on whether or not there ought to be a brand new value and what that value ought to be.

“The FFFAW has engaged its crab negotiating committee to organize for this course of. We’ll replace members when further info is accessible,” the union acknowledged on its web site.

Below the worth setting mechanism, all sides — the ASP and the FFAW — could make one applciation for a value reconsideration on snow crab annually.

Meaning the ASP will be unable to ask for an additional value consideration this season.

The FFAW, nevertheless, would nonetheless have their choice to ask the panel for an additional value evaluate in the course of the season.