Fifty cents per pound in the difference may not sound like much, but the fisheries minister says the higher price chosen by the independent panel will put $62-million into the pockets of crab harvesters.

The panel chose the FFAW’s submission over that of the Association of Seafood Producers, meaning those who toil in the boats will get close to $5.00 a pound instead of $4.50.

Minister Gerry Byrne says the extra money will go a long way in helping cover costs.

He says the ruling was important for a second reason, also. The panel chose the FFAW’s pricing model formula over the ASP’s.

“So, in future years, that will become the gold standard,” says Byrne. “Now, there will be some fine-tuning of the formula, but the FFAW’s formula has become the gold standard.”