Snow Crab
Pricing decision rendered April 5, 2006
The opening price for snow crab for 2006 is $1.05 lb.
This price remains in effect until 12:00 midnight, April
22, 2006.
By virtue of the Fishing Industry Collective Bargaining
Act, the opening price and subsequent price adjustments
as a result of the “price to market” formula agreed to
by the parties will be binding on all fish harvesters
and processors in the province, excluding the Labrador
Inuit Land Claims area.
Market price and exchange rate shifts will be reviewed
by a U.S.-based market consultant prior to the next raw
material price adjustment on April 22, 2006. This first
adjustment will be applied retroactively for all product
bought between April 1 and April 22, 2006, if the
adjusted price is higher. There will be no retroactive
downward adjustment of price. Price adjustments will be
reviewed bi-weekly thereafter and each successive
adjustment in price will be a result of the application
of the “price to market” formula.
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