The Standing Fish Price Setting Panel announced its decision on the price of snow crab for the start of the 2023 fishing season, selecting the Association of Seafood Producer’s (ASP) second price submission of $2.20 over the FFAW’s price of $3.10.

The FFAW says crab committees throughout the province have made the unanimous decision not to fish at what they call an unsustainable price and will review this position in the coming weeks.

“The Panel’s decision today has put our industry in the most precarious situation it’s ever been in,” FFAW president Greg Pretty said in a statement. “The Final Offer Selection (FOS) process has completely lost its way when bottom of the barrel prices are being selected without absolutely any merit. People can’t fish at 2.20. They can’t hire crew, they can’t generate enough to pay business loans, insurance, purchase fuel or bait, and still break even at the end of the day.”

The union is calling asking for an urgent meeting with Premier Andrew Furey.

“Our Union is also solidifying plans for further political action, because this decision today just highlights how broken our system is,” Pretty said. “Companies will survive this year and in a few years, this will be nothing but a distant memory. But hundreds of enterprises will not survive this year. There will be bankruptcies and there will be thousands of people out of work”

FFAW-Unifor will be meeting with all Crab Committees throughout the province to review the ongoing situation and further updates will be provided to members as available.