P.E.I.’s fall lobster fishery coping with low prices and high costs

One week after the fall lobster season opened on Prince Edward Island, some fishers are worried. Prices are at least $2 to $3 less a pound than they were just a few months ago, in some cases as low as half of what they were in the spring lobster fishery. “The most common price in the last few days is in the $4.75 to $5 range,” said Charlie McGeoghegan, who chairs the Lobster P.E.I. board. McGeoghegan said the problem of low lobster prices is compounded by the high cost of putting a boat in the water these days. “The price of fuel hasn’t gone down much,,, Jerry Gavin, executive director of the P.E.I. Seafood Processors Association, says there’s still a lot of lobster meat in storage from the spring fishery. “There’s a lot of meat in inventory and that certainly wasn’t the case last year, so yes, it’s going to be a tougher fall for fishers. >click to read<  13:48

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