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Price Setting Panel Selects FFAW Price for Capelin, 46% Increase

June 19, 2019

The Standing Fish Price Setting Panel announced its decision for capelin this afternoon, selecting the position of FFAW for a price of $0.35/lb, which is a 46% increase from last year’s price of $0.24 and 5 cents higher than ASP’s offer of $0.30. The price table added to capelin in 2017 will also be revised 46% higher to reflect the increase of the Grade “A” price.

The 2019 capelin fishery presents an excellent opportunity for the Newfoundland and Labrador harvesters. Norway and Iceland, which usually land hundreds of thousands of tons of capelin on an annual basis, will have no capelin fisheries in 2019. NL will land the vast majority of capelin on the market this year. Processors will certainly profit from the supply crunch this year and market prices will likely rise significantly. A strong harvester share of this increased market is required. Thank you to the negotiating committee for the hard work and input that helped secure this strong price improvement.