An agreement on crab prices reached on the weekend has dominated headlines in the last few days, but another important shellfish agreement has also been reached.
Lobster will fetch a minimum price of $3.25 a pound. It will increase by 70 per cent of any incremental amount greater than $5.00, and 80 per cent of any incremental amount greater than $6.00.
The FFAW and the Association of Seafood Producers have agreed to a formula that the union says “secures a fair share to harvesters,” while ensuring that the fishery continues uninterrupted through the season.
The price payable for landings in Week 1 is calculated based on the Urner Barry listing for Tuesday of Week 2, and so on until the week leading up to Mother’s Day, when lobster sales suddenly surge.