Snow Crab Negotiations Heading to Panel for Decision on Pricing Formula
March 21, 2024
Bargaining for a market-based pricing formula for snow crab has come to a halt, and the two parties will head to the provincial Price Setting Panel next Thursday to argue final offers for selection by the Panel.
The Negotiating Committee has been in St. John’s since Sunday in attempt to work out a deal with ASP on a market-based pricing formula for snow crab, but they will now head home as talks have stalled.
Parties have until next Wednesday at 4pm to craft their final submission the Price Setting Panel – the expectation is that both will submit their version of a formula based on market returns. The FFAW’s final submission will be shared with members when prepared. The Panel will then select one of the two formulas for implementation this fishing season.
Members will be advised if any changes are made to this process.