Newfoundland lobster pricing dispute ends

The province’s fisheries union and the seafood processors have reached agreement on lobster pricing for the remainder of the 2012 season, ending an impasse that led to some fishermen setting up a co-op to ship lobster out of the province.

“The amended formula effectively reduces raw material prices by 10 to 12 cents per pound roughly two and half per cent,” according to a Food, Fish and Allied Workers union news release about the pricing agreement reached Friday.

A government-appointed seafood-pricing panel set the base price for lobster this year at CAD 3.25 per pound.

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