Aquaculture for all

Successful Crab Price Negotiation Supports a Vibrant Economy

Crustaceans Sustainability Economics +5 more

CANADA - Keith Hutchings, Minister of Fisheries and Aquaculture, has extended congratulations to the fishing industry for quickly and successfully setting a price for crab.

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“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,” said Mr Hutchings.

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.