Tag Archives: lobster prices

Huge demand pushes record lobster prices - “The price is probably the highest it’s ever been”

Local lobster retailers were selling large lobsters at $9.99 a pound during the first week of November in 2018, 2019 and 2020. This year, the price climbed to $16.99 a pound, a price point it has stayed at since July.  ”I think catch price being up has helped,” said Ginny Olsen, a Stonington lobsterman and a board member with the Maine Lobstering Union. For her and other lobstermen in the region, they felt like this moment was a long time coming. “It’s about time,” said David Horner, a Southwest Harbor lobsterman. “We like to make money, too. The amount of risk and investment is enormous.” >click to read< 10:04

“Our industry is quite happy,,, Lobster prices are back up just as 2021 season ends

Charlie McGeoghegan, chair of the P.E.I. Lobster Marketing Board, said overall it was a “very good year” for lobster fishers.  “Our industry is quite happy with the way things went when you compare it to last year and many other years actually,” McGeoghegan said. “It’s a welcome change for sure.” The season was delayed two weeks due to COVID-19 concerns for the safety of boat crews, and questions over the demand for lobster. The season was extended by four days, but losing 10 days still negatively affected last year’s overall catch numbers and prices. >click to read< 16:12

Lobster prices are through the roof!

As the country reopens post-pandemic, increased demand for lobster and a squeezed supply caused by a state ban on lobstering to protect right whales has resulted in a price spike of about 60% per live lobster. “If there’s no lobsters coming in, then the demand isn’t being met. Those are the cards,” said South Shore Lobsterman Association President John Haverland. According to business publisher Urner Barry, the retail price of a live, one-and-a-half-pound lobster increased from $5.47 a year ago to $9.05 on June 7 this year. >click to read< 08:41

Lower prices, reduced markets ‘doesn’t make for good math’ – P.E.I. fishermen ask for four day season extension

The P.E.I. Fishermen’s Association (PEIFA) has asked for a four-day extension to the spring lobster season. The PEIFA made the request to the federal fisheries minister and the Department of Fisheries and Oceans (DFO) on June 16 to help offset the delayed start to the season. The season started two weeks late because of coronavirus and concerns over the safety of crews on boats, and questions over the demand and markets for lobster. According to the P.E.I. Lobster Marketing Board, about 200 fishermen have been dealing with quotas for most of the season, and prices are down substantially this year — most fishermen have been getting between $3.50 and $4.50 a pound for their catch.  >click to read< 21:57

Belize Fishermen hold meeting over proposed lobster prices

As we reported last week, the fishermen are dissatisfied that there is a significant decrease in the price of lobster. This weekend fishermen from northern Belize met in Caye Caulker,,, “We know that the prices are very low and I could guarantee that the Government of Belize is not aware of this. This is just an advantage that the cooperatives are taking from all fishermen to bring down the prices but I think it’s time that the fishermen come united and send a message not only to the management of the cooperative or to the government. I want them to understand that we are not the stepson we are sons of this nation we are the second industry that every year we give the government more than $20 million to the government and I think it’s time that the government puts it’s hand inside this cooperative because there are many dirty things happening inside the cooperative >cick to read< 13:12

After months of lobster industry losses, things may finally be taking a turn for the better

“We’ve come through the pandemic and it’s been challenging for everyone, to say the least,” says Geoff Irvine, Executive Director of The Lobster Council of Canada. This week, lobster season opened for some parts of the Maritimes including the North shore of New Brunswick, some parts of PEI, Nova Scotia’s Northumberland Strait and pars of Nova Scotia’s Northumberland Strait.  “We’ve seen the lobster market adjust quite dramatically from very strong demand and high, high prices, record prices in January pre-pandemic, and we’ve adjusted to a new reality and we’re in recovery mode now,” Irvine says. >click to read< 16:01

If you think lobster prices don’t affect you, think again

A recent social media post made by a local marketing firm sharing a photo of a shirt being sold in town that says “Make Lobster $1.97 lb. Again” stirred some controversy. Although it was intended to be a “joke,” it was no joking matter for many of us in the lobster industry. We remember all too well in the early 1990′s when lobsters were indeed this cheap, and how we were hurting. No one in dairy country would joke about milk being $1 a gallon, as most people are well aware of the struggles farmers face,,, Farmers feed our country – and so do American commercial fishermen.,, Right now, more than ever, Maine lobstermen need the public’s support. Maine lobster is well worth every penny paid for it. by Shelley Wigglesworth >click to read< 16:29

Lobster prices range from $7 to $8 per pound in Cape Breton

Lobster fishermen in Cape Breton are getting $7 or more a pound for the last two weeks of the season.  Starting prices were $7 and they dropped to $6.50 for a couple of weeks before rising again to $7 for many Cape Breton lobster fishermen. However, some are getting $7.50 or $8 a pound based on who the buyer is. “I don’t understand why in parts of Nova Scotia (like the South Shore) they get fifty-cent more than we do when we’re supposed to have the best product here in Eastern Nova Scotia,” said Garren O’Neil who fishes out of Main-à-Dieu and gets $7 a pound. >click to read< 12:29

Lobster prices – ‘There is a problem with the whole system and it has to be addressed’

The group that markets P.E.I. lobster says this year’s price is good, but could be better. The Lobster Fishers of P.E.I. Marketing Board says fishermen are getting a bit more than last year — between $5 and $5.75 for canner lobsters which are smaller and $6 to $6.75 for larger markets, said the group’s chair and fisherman Charlie MacGeoghegan. He said fishermen in Nova Scotia are getting more for their lobster. “If you take 2018 versus 2017 it was over a dollar a pound in the difference between Nova Scotia and here, so that’s, on last year’s catch that’s $38 million.” >click to read<12:55

Cape Breton – Lobster prices drop for area fishermen

Cape Breton fishermen might be feeling the pinch of a recent drop in the price of lobster. The season for clawed crustaceans opened May 15 in the island’s largest lobster fishing area, which spans from Bay St. Lawrence to Fourchu. Marlene Brogan, manager of Ballast Ground Fisheries, said when the season opened the price of landed lobster was $6.50. On Friday, it dropped for some fishermen to $6, with the retail price coming in at $9.50 for live lobsters. >click to read<12:02

Lobster prices expected to be ‘highest ever’ for start of season

Prices at the wharf for lobster taken form the waters in the Northumberland Strait are expected to fetch between $7 and $7.50 per lb., said Ron Heighton, president of the Northumberland Fishermen’s Association. Heighton said the fishermen won’t know for sure what they will be paid until likely sometime this week but based on the higher-than-normal prices being paid elsewhere, wharf prices are also expected to be up along the north shore. At the beginning of last year, processers and buyers were paying about $6.50/lb. for market-sized lobster compared to about $5.75/lb. for the same period in 2015. click here to read the story 17:08

Lobster prices high as catch drops and China imports climb

Lobster lovers are used to adjusting to high prices, but this winter, they’re shelling out even more for the cherished crustaceans because of a lack of catch off of New England and Canada and heavy exports to China. Winter is typically a slow season for U.S. lobster fishermen and an active one off Atlantic Canada. But catch is slow in both countries this year, in part because of bad weather, industry sources said. And the winter months are also an important time for exports to lobster-crazy China, which celebrates its New Year holiday Jan. 28. It’s increasingly popular to celebrate the Chinese New Year with American lobster. That’s causing demand at a time when supply is low. Read the story here 17:54

How a national craze caused lobster prices to boil over

The coast-to-coast craze of lobster roll food trucks has made lobster more affordable, and abroad the appetite for the crustaceans is growing as well, experts say.”The demand for this product now is really unprecedented,” said Annie Tselikis, marketing director for Maine Coast Co., a live lobster wholesaler based in York, Maine. She spoke Monday just before boarding a flight for a seafood trade show in South Korea, a major customer of North American lobsters along with China and others. According to John Sackton, one of the chief reasons prices are so high in August, September and October is “because the processors are buying lobster for customers such as lobster roll trucks, competing with the live lobster buyers. And that’s pushed up the price for lobster overall.” As a result, fresh lobster meals at some well-known Boston seafood restaurants are going nearly $60 for the 2- or 2.5-pound lobster and about $44 for the 1.25-pound. In Maine, lobster dinners at fine dining locations can set you back around $50, and in New York City and California you’re looking at upward of $70. Read the rest here 10:31

Lobster prices in New England have spiked to their highest level in more than a decade

744886-LobsterPrices0916-1024x962Annie Tselikis, marketing director at Maine Coast Co. and executive director of the Maine Lobster Dealers’ Association, said demand for live and processed lobster has been strong all summer.“We have seen higher prices in the marketplace this summer … on par with the demand that we’re seeing,” she said. “It’s been crazy since the Fourth of July.” Tselikis said a big reason for the boost in demand for processed lobster is that distributors have stepped up their efforts to create new markets. Much of the recent growth in demand has come from Asian markets including China, South Korea, Hong Kong, Singapore and Vietnam, she said. “We’re seeing lobster in places where it didn’t exist before,” Tselikis said. Read the story here 07:04

Slowing Chinese lobster demand, anticipated early season likely mean more conservative pricing

Lobster prices have fallen significantly after anticipation of continued strong growth in Chinese demand failed to come to fruition, with some industry executives expecting more conservative pricing for next season. In September last year, strong Chinese demand was keeping lobster prices high despite the usual post-Labor Day slowdown in the US, with softshell lobster selling for between $4.75 to $5.75 a pound. Some sources predicted that high prices could remain the norm for the foreseeable future. “Last year prices surged, but we had a long cold winter, supply was short, demand from China drove prices up pretty [high],” said Neil Zarella of Boston Lobster Company. Read the article here 15:39

Lobster prices hold steady as demand wavers in US, rises in China

lobsterDM0811_468x521Despite the annual post-Labor Day slowdown in US demand for lobster, high prices, initially caused by a shortage of product after a harsh winter, are unlikely to start dropping anytime soon, bolstered by the growing Chinese demand. According to Peter McAleney of New Meadows Lobster in Portland, Maine, lobster prices are about 50 cents higher than they were this time last year. Neil Zarella of the Boston Lobster Company said that soft-shell lobsters are selling from $4.75 to $5.75 per pound. Read the rest here 12:52

Lobster prices up in New England as season off to slow start

Prices are high because — the season picks up after the bulk of lobsters shed shells and reach legal harvesting size, and lobstermen said that hasn’t happened yet. This year’s summer lobster fishing season appears likely to feature a mid-July shed followed by a boom in catch, said Tim Harkins, president of the Maine Lobster Dealers Association. “Everyone I’ve spoken to expects to see new shell lobsters after (July) 4th,” he said. Read the rest here 11:01

Maine lobster industry – Long winter boosts lobster prices

The unusually cold winter may finally be over, but the lobsterDM0811_468x521 is still feeling its effects. The current wholesale market price of lobster is up to an average of $9 a pound, even higher in some places. Those high prices could last into the midsummer season before soft shell lobsters hit the menu. “The water temperature right now is 38, last year at this time it was around 42, 43. So we’re behind in the temperature. We might make it up if the spring gets a lot warmer, we might get caught up,” said sale manager of Beal’s Lobster Pier in Southwest Harbor, Rob Bauer. Read the rest here

P.E.I. fall lobster prices are going up and landings are good according to fishermen’s group

863a4ac9dc_64635696_o2Prices in the last week have moved up to $3.50 a pound for canner size lobster and $4.00 a pound for markets, according to the president of the Prince County Fishermen’s Association, Lee Knox. Read the rest here 10:21

Lobster prices rocket on supply downturn

Lobster prices are at extremely high levels as supply remains low at the summer’s close. Prices are in the mid-$17/lb. range for the price of tails and lobster meat sold from processors to retailers and restaurants, up 13.3% from the mid-$15 range in July. “It’s now a question of how sustainable is this,” the processor said. Read the rest here 14:03

Lobster prices lowest in a generation, say fishermen – Plentiful lobster supply and reduced demand blamed for low price

Fisherman Leonard LeBlanc of Cheticamp said he can’t remember prices this low in 30 years. “At $3.25 we’re not covering our costs we’re just trying to mitigate the expenses, at least pay some of them, not all of them and we’re praying we don’t have any major repairs.” The fishermen said the problem is a glut of lobster on the market. Catches are the best they’ve been in years, but there’s little demand. [email protected]

Horsemeat scandal could help Canadian lobster prices

The spring lobster season on P.E.I. opens in a month and the P.E.I. Fishermen’s Association is optimistic prices will be up, partly because of a horsemeat scandal earlier this year in Europe. continued

Shortages send lobster prices up

WEST YARMOUTH — The bins in the display case at Cape Codder Seafoods were overflowing with glistening fresh fish, scallops and shellfish, a harvest from the deep waters off Georges Bank all the way down to the shallow bays of Falmouth. That abundance was not true of the lobster pools, which were populated by just a few specimens, huddled in the corners. continue reading