Low prices, low catch wraps up P.E.I. spring lobster season

With global demand and lobster prices reaching record highs in Nova Scotia in the weeks leading up to P.E.I.’s spring season – around $17.50-18.50 a pound – many Island fishers were looking forward to a promising start to their season. “Typically, it drops a bit before we start because there are more boats in the water at that time, so we didn’t expect anywhere near that price,” said Charlie McGeoghegan, chair of the Lobster Marketing Board. “However, we did expect to start off where we left off last spring, which was in the $11-12 range.” That combined with the price of fuel being double what it was and bait being up 30 per cent, we thought maybe once we get a few weeks in, the price will get better. That’s what it did last year.” Instead, the prices dropped again by another $1.50 a pound, said McGeoghegan. Photos,>click to read<– 09:14

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