Price Setting Panel Selects FFAW Price for Turbot
July 14, 2020
Today the Standing Fish Price Setting Panel released its decision on the price of turbot, selecting the FFAW price of $1.70. The ASP price submission was $1.25.
This was the first time that turbot has been collectively bargained. FFAW decided to do so after processors told harvesters that they were only prepared to pay $1.25 this year, a 75-cent decrease from the year before. After a market assessment by FFAW, it was clear that the price offered by processors was unjustified. The price of $1.70 is more reflective of the turbot market this year.
FFAW hopes that its involvement in turbot will dissuade future efforts by processors to collapse the prices of other non-negotiated species. FFAW also hopes to build on the success of this year and achieve better prices for turbot in the years to come.
Thank you to the turbot committee for your input and information.