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Price Setting Panel Sides with FFAW on 2018 Lobster Prices

April 17, 2018

The current lobster price formula will remain in place for the 2018 season, as the Panel rejected SPONL’s attempts to enact a radical price reduction through the Price Setting Panel process. This is a significant victory for lobster harvesters, who had much at stake during this year’s negotiations.

We anticipate another strong lobster season in 2018 that will help build economic sustainability for harvesters on the south and west coast of the province.

While FFAW’s victory at the Panel is important, we expect similar challenges in the future. It is important for harvesters to speak with their buyers/processors and explain to them how important the formula is for the success of the fishery and that any new formula needs to be built on consultation, collaboration, and transparency.

Thanks to the negotiating committee for their hard work! We wish all harvesters a safe and successful season.