June 14, 2017 - Today, the price setting panel made their decision on capelin prices for the 2017 fishing season, siding with the FFAW's price proposal.
The Association of Seafood Producers (ASP) argued that the price for 2017 should be lower than what it was in 2016 and said last year's price was too high. They argued this despite market indicators suggesting either stable or increased market prices for the upcoming season.
The Panel also decided that harvesters are receiving a smaller market share for capelin compared to other species, such as with crab, shrimp and halibut.
As a result of these and other factors, the Panel decided the FFAW's proposal was most in line with market projections.
We would like to thank the negotiating committee for their hard work during these negotiations, and for making this win possible.
The prices for 2017 will be:
0.24/lb for Grade A
0.14/lb for Grade B