Snow crab price set
Crab prices have been set just in time for the start of the fishing season, but it’s still not clear when it will go ahead. The price-setting panel chose the Association of Seafood Producers’ offer of $5.30 per pound, leaving the union angry.
The FFAW says harvesters cannot be forced to fish for a price that is not economically feasible. Now that the panel decision has been issued, the union says it wants to negotiate with ASP and individual processors on a price that will get the fishery started.
Not all details have been released yet, but the FFAW shared that the opening price will be followed with a receipt-based settlement mechanism, and a final settlement will occur three weeks after the fishery ends.