An excess of snow crab produced in Newfoundland and Labrador is leading to supply outpacing demand, leaving industry figures to question if it’s worth slowing production to allow the market to catch up.
The provincial snow crab quota was set at 50,470 tonnes by Federal Fisheries Minister Joyce Murray in March, a 32 per cent increase from the previous year. More than 60 per cent of the total quota has already been caught and processed, according to Derek Butler, executive director of the Association of Seafood Producers.
Butler says the fast-paced production has caused the market for crab to stall, leaving the industry to wonder where it will go next.
To read the rest of the story, please go to: CBC News
