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Crab Prices 2015

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Fish Prices
Crab Prices 2015
Effective DateMinimum Price
 May 3 to 9 $2.33
May 10 to 16$2.33
May 17 to 23$2.45
May 24 to 30$2.45
May 31 to June 6$2.45
June 7 to June 13$2.45
June 14 to June 20$2.45
June 21 to June 27$2.45
June 28 to July 4$2.45
July 5 to July 11$2.45
July 12 to July 18$2.45
July 19 to July 25$2.45

Price setting panel accepts FFAW position in crab price reconsideration

On Friday May 2nd, the Price Setting Panel accepted the FFAW’s reconsideration request and increased the minimum price of snow crab by 11 cents per pound.

The minimum price established by the Panel is $2.45/lb. This can only change according to the strength or weakness of the American currency against the Canadian currency. The $2.45 price is based on a rate of 1.2623, which was the average exchange rate the week prior to the fishery opening. The currency change can affect the price in 12 cent increments. The currency also operates within a specific range:

Exchange RateMinimum Price
1.1624 to 1.2123$2.33/lb
1.2124 to 1.3123$2.45/lb
1.3124 to 1.3623$2.57/lb

The currency is set using the average from Sunday to Saturday. The minimum price established by the exchange rate applies to the week that exchange rate was calculated.

For Example: The week of May 3 to May 9 the average exchange rate was 1.2109, which is just below 1.2124. As a result, the minimum price for May 3 to May 9 is $2.33

The exchange rate does not need to increase 5 cents to change. If the exchange rate for the week of May 10 to May 16 increases to 1.2124 or higher (15% of 1 cent), then the minimum price would increase to $2.45.

Currency Provision for the 2015 Crab Fishing Season (PDF LINK MISSING)