FFAW Brings SPONL into its Lobster Formula Pricing, Vows to Differentiate Newfoundland Lobster

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FFAW Brings SPONL into its Lobster Formula Pricing, Vows to Differentiate Newfoundland Lobster

The FFAW announced that after three years during which the Seafood Producers of Newfoundland and Labrador (SPONL) tried to roll back the price formula, both sides agreed to go forward with the formula this year.

The formula pays NL lobstermen around 70% of the Canadian dollar value of the average live market price for lobsters reported by Urner Barry. During the Lobster season, which begins around April 22^nd, the price is adjusted each week by the exchange rate and the US market price...

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