Tag Archives: The Blackwood formula
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
FFAW blasts price-setting panel after it sides with ASP on crab-pricing formula
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. 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. The panel rejected a formula proposed by the Food, Fish & Allied Workers union, which was closely tied to the formula suggested by an independent report at the end of last season. “There was a better way to do this,” said FFAW president Greg Pretty. “The work was already done by Glen Blackwood in his report. The Blackwood formula provided a way for harvesters to be paid a fair market share, but that was tossed aside for a formula that is not tied to information harvesters can trust.” more, >>click to read<< 11:26
Panel Selects ASP Formula, Pulling Fair Market Share from Harvester Reach
Minutes ago, the Standing Fish Price Setting Panel announced their decision for the 2024 snow crab season, siding with the Association of Seafood Producers formula. FFAW’s offer was based on the Blackwood report and would have seen harvesters capture a fair market value based on historic shares. ASP’s formula is not based on historic data, nor was justification found within their submission document. Moreover, there is no mechanism for harvesters to benefit as the market increases. ASP caps harvester share at 37% once the market reaches $8.02CAD, contrary to historic pricing shares that increases the harvester share as market prices increase. more, including 2024 Crab Fishery Decision, >>click to read<< 19:50
