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
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