P.E.I. lobster harvesters seeing low prices despite strong catches

With only a few weeks left in lobster season on Prince Edward Island, fishers are seeing lower prices. New London, P.E.I., lobster harvester Peter Pidgeon said harvesters were hearing about the big prices in Nova Scotia and getting excited for the season. He said prices are currently sitting a little lower. “This year it’s a little lower. We’re at $6.25 a pound and $6.50 a pound right now.” Nat Richard, the executive director of the Lobster Processors Association, said the association is in the midst of the largest catch year ever in Canada. “The cost to hold inventory just went through the roof. That’s always a concern when you have an imbalance in terms of the supply and demand picture and that’s very much what we are dealing with this year,” he said. Video, more, >>CLICK TO READ<< 16:32

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