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2022 Squid Price Decision

July 21, 2022

This morning, July 21st, the Standing Fish Price Setting Panel announced the price of squid for the 2022 fishing season, siding with the FFAW’s position of $0.70/lb for all squid landed. The remainder of the squid schedule and conditions remains unchanged.

ASP attempted to to strip harvesters of a fair price with a proposed pricing tier:

The Panel accepted FFAW’s argument evidencing that both the export and bait markets for NL Squid are in a strong position for 2022 and 2023. Squid sales have been resilient to market pressures and significant growth in the NL and Atlantic crab fisheries in recent years has increased the demand for NL squid as bait. It is noted by the Panel in its Decision that the price for squid bait in NL has remained the same over the past three years at $1.75/lb., while price paid to harvesters has declined. FFAW believe squid and other bait species caught this year will be a valuable commodity in 2023, particularly in light of the moratorium on Herring and Mackerel fisheries in the Gulf of St. Lawrence. Export pricing for 2022, has increased over the average export price in 2021 and that speaks to the stability of the NL Squid export market.

Thank you to the Committee for their insights and hard work leading up to and during negotiations.