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Cod Negotiations Update

May 15, 2020

On May 14th, the Standing Fish Price Setting Panel held a hearing on the price of cod for the 2020-2021 season. FFAW’s position is that cod prices to harvesters do not reflect market realities even with the market challenges presented by COVID-19. FFAW submitted a price of 90 cents per pound for Grade “A” cod landed until the end of July and 98 cents for Grade “A” cod landed from August to the end of the season. This is a 9% increase over last year’s price. If this price is selected the price of cod will have increased by 15 cents per pound over two years. The Grade “B” price was to increase by 2 cents to 42 cents and the Grade “C” price would remain unchanged at 20 cents.

The ASP price position was 72 cents for Grade “A” price landed up to the end of July and 80 cents for Grade “A” cod landed after that date. The Grade “B” and “C” prices would stay the same. This represents a 9% reduction in price and would bring prices back to the lowest point since 2015.

ASP’s argument for a price decline stressed heavily the impacts of the COVID-19 pandemic. The issue of working towards establishing a fair price to harvesters was not addressed by ASP. As FFAW has stressed in all price negotiations this year, the current pandemic cannot serve as justification for unfair prices to harvesters.

The Panel has said they will make their decision on Tuesday.

Thank you to the cod committee for its strong work and commitment to getting a fair price for their fellow harvesters.