Lump Roe Prices 2008

Retroactive Price Adjustment

The final price for lump roe for 2008 was $3.75 per pound.

The minimum starting price was $1.50 per pound, so the rebate owed by the processors to fish harvesters is $2.25 per pound

2008 Price Schedule – Lumproe

The prices and related terms and conditions for lumproe for 2008 are as follows:

The parties agree that this schedule and the Master Collective Agreement dated May 4, 2006 together constitute a Collective Agreement between the parties for lumproe for the purposes of the Fishing Industry Collective Bargaining Act.

1. At market prices up to $900 Cdn CIF Europe, fish harvesters will be paid $1.50 per pound for lumproe.

2. If the market price as outlined in paragraph 3 below exceeds $900 per barrel, prices to fish harvesters will be increased retroactively based on sales and shipments up to November 30, 2008. Retroactive payments will be due and payable no later than December 10, 2008. The raw material price will be increased at a rate of $.01/lb for each $4 per barrel market price increment in excess of $900 per barrel. (For example, at $1,000 per barrel the raw material price would be $1.75 per pound).

3. Confirmation of average market prices received will be based on sales reports up to and including November 30, 2008 showing volumes and weighted average prices received per barrel (Cdn$ CIF Europe) from Ocean Choice International (OCI), Beothic Fish Processors and Icewater Fisheries. Verification through independent audit or prices received is at the discretion and cost of FFAW.

4. There will be no deductions from these prices for ice and/or water.

5. The parties agree to a three-week lump season in each area. The parties agree to variable seasons by area, provided that no individual licence holder can fish in more than one three-week season. A committee of the FFAW, ASP and Icewater will be established to monitor landings during the first two weeks with a view to increasing/shortening the season should there be a perceived shortfall/oversupply.

6. Temperatures must be controlled by icing and landed roe must be free of foreign material and excess water.