Today the Standing Fish Price Setting Panel released its decision on the price of squid for 2019. The Panel sided with the FFAW submission, meaning that the price of squid will be $1.00 per pound for the first 4500mt and 75 cents for all squid landed above 4500mt. Last year, harvesters landed 1200mt and the 4500mt threshold has not been eclipsed since 2006. With that said, strong signs of squid are being reported from harvesters across the province.
The price last year was 85 cents per pound and this year’s price represents an 18% increase year-over-year.
Last year’s squid landings were the most since 2006 and if this trend continues we are confident that it will lead to lower bait prices overall for harvesters, as there will be a reduced reliance on expensive imported bait.