Tag Archives: Commodity Market

Investment company Brimstone adds offshore fishing deal to its food basket

EMPOWERMENT investment company Brimstone, which has in recent years shown a growing appetite for food investments, has landed an offshore fishing deal. On Thursday, Brimstone’s 58% controlled hake-fishing specialist, Sea Harvest, confirmed netting a 19.9% stake in Perth-based Mareterram, which was listed on the Australian Stock Exchange last week. Newly formed Mareterram comprises Western Australian-based Norwest Seafoods, which harvests and processes wild-caught king and tiger prawns, as well as scallops. Read the rest here 13:51

Lobster retail pricing has lobstermen at the mercy of a Commodity Market

For more than a decade, we’ve been living through a commodity price boom. From oil to wheat and beef, the general rule has been that if you farmed it, caught it, or took it out of the ground you were probably going to make money selling it. But there has been a strange exception: lobster. In 2005, Maine lobster was selling for almost six dollars a pound wholesale. By 2009, it cost just half that, and, in the past couple of summers, huge lobster harvests, believed by some to be a result of global warming, have glutted the market, sending prices tumbling further. This month, lobster off the boat is selling for as low as $2.20 a pound. [email protected] newyorker 14:04