Why lobster prices are so high and what it means for the industry

Lobster prices in the Maritimes are high and buyers in Nova Scotia say they’ve never seen lobster on the wharf sell for $8 per pound in early May. This is the time of year when almost every lobster fishery on the East Coast is open — there are more boats on the water in early May than there are at pretty much any other time of the year. With so many traps in the water, why is the price so high? “This is the highest price in the history of the commercial fishery in the spring on this date. I emphasize on this date,” said Stewart Lamont, a lobster buyer on Nova Scotia’s eastern shore and managing director of Tangiers Lobster Company. click here to read the story 09:57