Today, May 12th, the Association of Seafood Producers (ASP) made an application to the Standing Fish Price Setting Panel asking for a reconsideration on the minimum snow crab price. Once the Panel is served with the application it has 96 hours to make a final decision on whether there should be a new price and what that price should be. The Panel has stated that it will hear the reconsideration. Therefore, the Panel’s decision has to be released on Monday, May 16th.
Under the rules for the Panel, each side – ASP and FFAW – can make one application for a price reconsideration on snow crab each year. All Panel hearings with ASP are based on final offer selection, meaning that the Panel has to pick either the ASP price or the FFAW price. The same rules apply to reconsideration.
FFAW has engaged its crab negotiating committee to prepare for this process. We will update members when additional information is available.