Starting on time crucial for N.L.'s crab fishery stability: Market analyst says delays would be 'very damaging' economically

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As harvesters and processors in Newfoundland and Labrador eagerly await a price to be set for snow crab, analyst John Sackton says starting the season on time is crucial for market stability.

A year ago, harvesters were not happy with the panel siding with the ASP’s final offer of $2.20 per pound and refused to fish for crab for six weeks before finally conceding for that same price. The crab fishery in the rest of Atlantic Canada will go ahead as planned, he said, and buyers want to calculate how much product will be available.A delayed opening could punish the Newfoundland and Labrador market, according to Sackton.

Even though last year’s crab fishery began on time in the rest of Atlantic Canada, the void left by fresh crab from Newfoundland and Labrador allowed those suppliers to deplete their stored product.John Sackton, a veteran seafood market analyst, says not starting on time could harm the market value of Newfoundland and Labrador snow crab. – Contributed“The inventories are in a normal range, fairly depleted.

“I think everybody understands the importance of opening the fishery ,” he said. “I really think the issue is ultimately listening to the market.

 

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