Newfoundland and Labrador Fishery Crisis Expands to Lobster
Harvesters in Newfoundland and Labrador are facing another crisis in the fishery – this time with lobster – with companies refusing to buy because they claim the formula-calculated price is not to their liking. Today’s formula calculation is based on market prices and puts the harvester share at $14.37 per pound. The ASP position at Panel would have put the price at 14.20, 17 cents lower. While this number is expected to drop in the coming weeks as fisheries open throughout the Atlantic Canada, this starting price is an all-time high for Newfoundland and Labrador harvesters. As a result, companies are colluding to shut down all fisheries in Newfoundland and Labrador that don’t eliminate their share of the risk. >click to read< 15:08
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