Nelson Bussey, owner of the Port de Grave-based fishing vessel Eastern Princess II, displays a snow crab landed earlier this week. (Terry Roberts/CBC)

Record prices, higher quotas fuelling excitement in N.L. crab fishery

CANADA
Monday, May 03, 2021, 10:00 (GMT + 9)

The following is an excerpt from an article published by CBC News:

Processors say price is too high and shortage of plant workers is causing delays

Nfld. & Labrador - After more than 40 years in the Newfoundland and Labrador fishing industry, Nelson Bussey of Port de Grave knows when things are going well. And so far this year, he couldn't be happier.

"I think this will be the best year ever for the crab fishery," Bussey said recently, standing on the deck of his 65-foot fishing vessel, the Eastern Princess II.

Bussey has reason to be upbeat.

Members of the crew of the Eastern Princess II are all smiles are they pose for a photograph with some of the valuable catch they landed at Port de Grave this week. They are, from left, Jonathan Boone, Chris Butler, Shane Lynch, Derrick Petten, Nelson Bussey and Wayde Gillingham. (Terry Roberts/CBC)

Beneath his feet, the fish hold on his vessel was crawling with nearly $400,000 worth of snow crab, a bounty so valuable that crew members aboard the Princess could hardly contain their delight.

"For me and my wife this is a good way to put in another good year and a successful one for us," said veteran harvester Wayde Gillingham.

"It will help us get through the year and be financially stable for a year," added crewmate Jonathan Boone. "Last year was a rough year. This year will be a better year."

A combination of record prices and bigger quotas is setting the stage for the best-ever season in the Newfoundland and Labrador crab harvest, with insiders predicting that the landed value could exceed $500 million.

But while harvesters are celebrating, the companies and buy and process crab are not.

In a statement released late Friday afternoon, the executive director for the Association of Seafood Producers said the price is too high, and that the model used to set prices is broken.

"We're very concerned about the decision of the Fish Price Setting Panel," said Derek Butler.

He said the current price is very high," and said it is "divorced from our business structure and costs, and swinging the pendulum of market significantly to harvesters." (continues...)

Author: Terry Roberts · CBC News | Read the full article by clicking the link here

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