Crab prices set at $1.50 per pound

CONCHE, N.L. – Paul Bromley fishes to break even.

But at least prices won’t go any lower this season.

In early May the Standing Fish Price Setting Panel ruled that crab prices will stay at a $1.50 a pound for the rest of the season. Prices were previously subjected to change every two weeks due to altering market and currency forces.

The change came after prices dropped from $1.61/lb. to $1.50/lb. two weeks earlier – setting off alarm bells for fishermen who were concerned prices would continue to drop below the break even margin. The Fish, Food and Allied Workers’ union (FFAW) subsequently lobbied for the season-long price against the wishes of seafood processors.

“We believe the amended panel decision at least provides some stability for skippers and crew members alike,” said FFAW president Earle McCurdy.

The decision leaves prices 11 cents lower than last year while fuel prices are up nearly 30 per cent.

Bromley, meanwhile, isn’t jumping for joy.

“$1.50 is still a big hit,” said the owner of the 36-foot Bromley’s Venture. “But I’ve got no other choice – I’ve got to go at it and try to break even.”

When the ice cleared around Conche, he planned to start the first of some 10 trips to the crab grounds to catch two 15,400-pound quotas. On each trip he’ll burn 1,200 to 1,300 litres of marine diesel at $1.08 per litre. Factor in crew shares, food and other boat-related expenses and he’s not making much money.

“But what else am I gonna go at?” said Mr. Bromley, with a shake of his head when asked why he keeps fishing. “I’ve been at it 40 years or more.”