PEIFA puzzled over prices

The Prince Edward Island Fishermen’s Association is describing it as “puzzling” that the price P.E.I. fall lobster fishermen are receiving for their catch is trending 25 cents a pound lower than what New Brunswick fishermen are receiving. The fall fishermen all fish in the same body of water, Lobster Fishing Area 25 in the Northumberland Strait. “Despite warmer than normal temperatures, harvesters report robust product is being delivered to buying stations in Prince County,” the PEIFA advises. The association notes many fall fishermen invested fairly significantly in recent months in onboard storage equipment to maintain the quality of their catch. Prince County Fishermen’s Association president, Lee Knox, said Island boats were generally receiving $4.50 a pound for canners and $5 a pound for markets for the first three fishing days of the season, and then the price dropped to $4.25 and $4.75 and has remained there. He said the $4.50 and $5 prices for canners and markets respectively have remained fairly consistent in New Brunswick. The association points to several factors which should translate into fair prices for the fall fishermen, including, strong international demand, a reduction in international tariffs, favourable exchange rate in relation to the U.S. dollar and a smaller number of boats participating in the fall season in comparison to other seasons. And, while the P.E.I. price is lagging 25 cents a pound behind the New Brunswick price, the PEIFA points out some of the Island product is actually being processed in New Brunswick. The association is urging the buying sector to provide an explanation for the price differential. Despite a minimum carapace length of four millimetres longer than in P.E.I.’s spring fishery, Knox noted the price for the fall fishery is lagging about 75 cents a pound behind what the Island’s spring fishermen received. One of the suggested advantages of the size increase that was imposed on the district, he said, was improved prices.