Lobster Prices 2016 – NL

Please note that the Panel decision on the 2016 lobster fishery was released on April 15. The Panel accepted the SPONL position.

The Panel’s decision maintains the price formula that has been in effect since 2011. Accordingly, the price of lobster will be directly tied to the Urner Barry price index. A weekly price will be based on the average of the Thursday-Tuesday price listings, e.g. the price for Week 1 is based on the average of the Urner Barry listings for the Thursday of week 1 and the Tuesday of week 2.

These average prices are converted to Canadian dollars and the total price for the week is placed into a formula. Harvesters receive $3.25 of the first $5.00, 70% of the lobster price between $5.01 and $6.00, and 80% of the price that exceeds $6.00.

This decision by the Panel will impact the price of lobster for one (1) week during the season. For the week of May 1-7, the price will be based solely upon the Urner Barry listing for Tuesday, May 10, 2016. May 1-7 is the week before Mother’s Day.

FFAW-Unifor does not agree with this decision and SPONL refused to come to a reasonable accommodation. We will be working to reverse this decision in the 2017 negotiations.

EFFECTIVE DATE AVERAGE MARKET PRICE (USD) EXCHANGE RATE AVERAGE MARKET PRICE (CDN) MINIMUM SHORE PRICE
Sun. April 17 to Sat. April 23 $6.95 1.26852 $8.816 $6.20
Sun April 24 to Sat April 30 $6.225 1.25729 $7.826 $5.41
Sun May 1 to Sat. May 7 $6.10 1.28 $7.829 $5.41
Sun May 8 to Sat May 14 $5.97 1.29104 $7.713 $5.32
May 15 to May 21 $5.85 1.30548 $7.637 $5.26
May 22 to May 28 $5.975 1.30517 $7.798 $5.39
May 29 to June 4 $6.35 1.30092 $8.26 $5.76
June 5 to June 11 $7.10 1.27571 $9.057 $6.40
June 12 to June 18 $7.475 1.28856 $9.632 $6.86
June 19 – June 25 $7.60 1.29119 $9.813 $7.00
June 26 – July 2 $7.725 1.29476 $10.00 $7.15
July 3 – July 9 $7.85 1.30072 $10.211 $7.32
July 10 – 16 $7.725 1.29770 $10.03 $7.17
July 17 – 23 $7.60 1.30931 $9.951 $7.11

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