Tag Archives: lobster prices

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