Snow Crab Reconsideration Update: ASP's Position Selected

Today, May 16th, the Standing Fish Price Setting Panel released its decision on the price reconsideration for the minimum price of snow crab. The Panel selected the Association of Seafood Producers (ASP) position of $6.15 per pound, rejecting the $6.55 price position submitted by FFAW.

UPDATE: We have been updated that the new price ($6.15) will come into effect at 4pm today.

FFAW is deeply frustrated by this price decision. Despite volatility in the market, we do not believe there was sufficient evidence to support the ASP position. We must investigate a new approach for pricing that allows for fair pricing, with more transparent information available, striking a proper balance between assuming market risks and market growth.

While the Standing Fish Price Setting Panel has provided a fair process that supports the interests of fish harvesters in the past, a commitment to fairness, market analysis, and the collective bargaining process is essential. Under the price setting mechanism, each side — the ASP and the FFAW — can make one application for a price reconsideration on snow crab each year.

ASP will not be able to ask for another price consideration this season. However, FFAW will continue to monitor markets and will pursue the option of applying for another price reconsideration if the Panel’s extremely negative view of the market does not materialize.

Thank you to the Snow Crab Negotiating Committee for their hard work and commitment. You performed an outstanding service to your fellow harvesters.