Tag Archives: international market
Fishers crabby over Japan’s Russian imports, but Tokyo says Canada exports negligible
Atlantic fishers are feeling the pinch as Japan brings in cheap Russian product rather than Canadian snow crabs, with federal ministers and provincial premiers saying they are raising the issue with Japanese officials. Snow crab prices have dropped in Newfoundland and Labrador from $7.60 per pound at the start of last year’s season to an opening price of $2.20 this year. Fishers in the province have refused to start harvesting this year as they scramble to sell off last year’s surplus, although the price could still rise. Meanwhile, Moscow has flooded other parts of the international market with cheap product. >click to read< 07:58
Snow crab producers could limit production to help international market
An excess of snow crab produced in Newfoundland and Labrador is leading to supply outpacing demand, leaving industry figures to question if it’s worth slowing production to allow the market to catch up. More than 60 per cent of the total quota has already been caught and processed, according to Derek Butler, executive director of the Association of Seafood Producers. Butler says the fast-paced production has caused the market for crab to stall, leaving the industry to wonder where it will go next. “It’s a situation where we continue to buy, produce and to build inventories without the required sales to support those inventories,” >click to read< 10:47
