Lump Roe Prices 2019

UPDATE OCTOBER 28, 2019: Calculations for the lump roe rebate have been completed and harvesters will be receiving a rebate of $3.01 per pound, resulting in a total price of $4.51 per pound. The lump roe market for Newfoundland and Labrador has improved significantly and processors are encouraging more harvesters to participate in the lump fishery next year.

The prices and related terms and conditions for lump roe for 2019 are as follows:

The parties agree that this schedule and the Master Collective Agreement in effect January 1, 2019, together constitute a Collective Agreement between the parties for lump roe 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 lump roe.
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, 2019. Retroactive payments will be due and payable no later than December 10, 2019.
   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 $2.00 per pound).
3. Confirmation of average market prices received will be based on sales reports up to and including November 30, 2019 showing volumes and weighted average prices received per barrel (Cdn$ 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.