New Shrimp Prices to be Set in Newfoundland, With Uncertainty Whether Market Will Accept Increase
SEAFOODNEWS.COM [Undercurrent News] by Jeanine Stewart June 19, 2017
Summer negotiations for shrimp prices in Newfoundland should conclude this week, with a decision by the price panel.
The panel, authorized by the province to set minimum coldwater shrimp prices, will choose one of the two proposals -- it cannot select a middle-ground price -- during a hearing at 10am Thursday. Fishermen are proposing a $1.25/lb proposal, while processors are firm at $1.04/lb, according to sources privy to the conclusion of negotiations between the Fish Food and Allied Workers union and the Association of Seafood Processors.
Meanwhile, it remains uncertain whether processors will be able to pass any price increase on to the main market in Europe, and some are adamant they won't.
Although coldwater shrimp prices have recently spiked in Europe, customers have yet to return to buying at the levels they used to, George Nolan -- president of Rhode Island, US-based distributor Great Northern Products -- said, questioning whether fishermen will get their wishes....
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