Crab harvesters will lose out on $30M because price-setting panel sided with processors, says Efford

With the time-sensitive snow crab season set to begin in a few days, fish harvesters in Newfoundland and Labrador are once again talking about tying up their boats due to the price of crab. One vocal critic says the new decision will cost harvesters as much as $30 million from a lucrative fishery that has become the economic mainstay in the industry since the cod collapse of the early 1990s. The province’s price-setting panel sided with the Association of Seafood Producers on Monday evening, setting a price floor of $2.60 per pound with the ability go up as market factors change. John Efford, the Port de Grave fisherman who led protests throughout March, said when he heard the price setting panel had chosen the ASP formula his first reaction was one of disbelief. Photos, Video, more, >>click to read<< 16:35

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