The Standing Fish Price Setting Panel held a hearing yesterday on the price of capelin for 2020. The capelin fishery experienced significant growth last year, as global supply declined sharply with no fisheries in Iceland, Norway, or Russia. In 2020, this global supply crunch continues, and the market will once again be strong.
ASP has put forward a Grade “A” price of 37.5 cents, a slight price increase from last year’s top price.
FFAW submitted a Grade “A” price of 42 cents, a 7-cent increase over 2019. This is a 20% increase over 2019. If our price position is accepted, all other price categories on the capelin price table will be increased by 20%.
The Panel has advised that it will release its decision by Tuesday.
Thank you to the capelin committee for your invaluable guidance, insight and suggestions.