The protracted stalemate in the province’s crab fishery has come to an end.

The FFAW has announced it has “reluctantly agreed” to sign off on a final offer from the Association of Seafood Producers to officially get the delayed fishery going.

In a news release issued early this afternoon, the union says the snow crab bargaining committee signed off on the offer this morning.

It guarantees a minimum price of $2.20 per pound, and includes incremental increases to ensure the price does not go lower regardless of possible drops in the market.

The deal was reached after leadership with the FFAW and Association of Seafood Producers (ASP) met with Premier Andrew Furey this morning at Confederation Building.

Our government recognizes the past several weeks have been challenging for people in Newfoundland and Labrador’s significant crab fishery. It was important to reach an agreement to start the 2023 season. We encourage everyone to maintain public safety and respect the process. pic.twitter.com/WZUqL9y30G

— Andrew Furey (@FureyAndrew) May 19, 2023

“Given the difficult global market for snow crab this season and the significance of this fishery to Newfoundland and Labrador, it was important for all parties to come together to reach a solution in order to start the fishery,” Furey said in a statement.

“We encourage all parties to maintain public safety and respect the process,” he said, adding police will continue to monitor the situation closely to protect the safety of all those involved.

The FFAW says the agreement was made on the stipulation that Furey publicly commit to revamping the final offer selection process and work toward a new formula before the 2024 season. The provincial government’s statement on the matter makes no reference to that stipulation.

“Nobody on the (snow crab) committee is happy to be signing this deal today,” said FFAW President Greg Pretty.

“They put hundreds of volunteer hours into trying to find a better outcome for harvesters, and having this industry at a standstill for over six weeks was incredibly challenging on many fronts.

“Harvesters hoped the market situation would improve over the last several weeks. Those hopes did not materialize, and without a doubt the committee was backed into a corner.”

Pretty says the “historic” shutdown of the snow crab fishery has not gone unnoticed by provincial or federal decision makers.

“A chain reaction has been started as a result of the solidarity that has been shown over these several weeks, and we are encouraged by the Premier’s commitment to review this entire process.”

Here is the breakdown of the pricing mechanism for 2023:

$2.20 to start and the minimum for the year.

– 2.25 @ 4.85 (US)
– 2.30 @ 4.95
– 2.60 @ 5.50
– 2.75 @ 6.00

Reconsideration of price would occur at 6.01 USD.