According to the information lump-roe harvesters had already received a minimum price of $1.50 at the wharf for product this year. The $2.49 rebate will be added to that minimum price. It is told that the rebate this year is higher than the last one and it is based on a pricing market formula that has been negotiated in the lump-roe fishery. The formula has been in place for the past number of years and results in a final price that is determined by actual sale in the marketplace.
It is informed that this year’s substantial rebate was largely due to a shortage of roe in the marketplace, which continued to drive the price. When the prices were very good, catch rates were down significantly with about 500 barrels of lump roe harvested in Newfoundland and Labrador in 2009. Nevertheless, the rebate will provide some good news for some of the approximately 2,000 small-boat harvesters affected by the lump roe fishery in the province.
Such an act from the government encouraged harvesters to contact their buyer for payment immediately and to request an amended Record of Employment since the rebate may impact their EI benefits.
