Lump Roe Prices 2011

Retroactive Price Adjustment

The final price for lump roe for 2011 was $3.77 per pound.

The minimum starting price was $1.50 per pound, so the rebate owed by the processors to fish harvesters is $2.27 per pound.Harvesters are encouraged to contact their buyer for payment immediately and to request an amended Record of Employment since the rebate may impact their EI benefits.

2011 Price Schedule – Lumproe

The prices and related terms and conditions for lumproe for 2011 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, 2011. Retroactive payments will be due and payable no later than December 10, 2011.

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 $1,100 per barrel the raw material price would be $2.00 per pound).

3. Confirmation of average market prices received will be based on sales reports up to and including November 30, 2011 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. Temperatures must be controlled by icing and landed roe must be free of foreign material and excess water.