The Fish, Food and Allied Workers Union says it has reached an agreement with the Association of Seafood Producers, that solves the dispute over crab prices.
In addition to the minimum price of $1.83 set by the province's Standing Fish Price-setting Panel, the union said processors will pay an additional 17 cents a pound from all sales up to and including May 4 .
Both sides have agreed to set up a joint working group that will develop options for future crab pricing structures. This new group will conduct its work this fall, with the objective of creating a more effective pricing structure for the 2014 crab season.
Most crab fishermen in Newfoundland and Labrador have so far refused to harvest catches this season because they're upset with the price that's been offered.
On Monday about 200 of those fishermen went to the Golden Shell Fisheries plant in Hickman's Harbour where crab had been trucked for processing. The fishermen removed about 30,000 pounds of the shellfish from the plant and threw it into the harbour.
The FFAW also met on Friday with Fisheries Minister Derrick Dalley to request that the Minister approve a pilot project to grant exemptions from minimum processing requirements to allow crab fishing licence holders to export up to a million pounds of crab to out-of-province buyers.
The union said the minister took the request under consideration and Dalley indicated he would provide a response in the near future.