Tag Archives: Hugh Reynolds

Despite an uncertain start to the fishery’s season, Maine lobster rolls on as the industry pivoted to new markets

Stonington lobster fisherman John Williams usually hauls his boat out in February for annual maintenance and paint in preparation for the start of the spring fishing season. “Then COVID started,”  The health emergency was worsening and the economy shutting down. That included one of the lobster industry’s biggest markets — restaurants. The large cruise ship and casino markets also slammed shut. International freight and shipping to China, emerging as a large consumer of lobster, had nearly stopped. “I got thinking about it and said, ‘This doesn’t look very good. We won’t have any market,’” Williams says. >click to read<  10:31

US-China Trade Deal: US lobster dealers anxious to resume business with China

Hugh Reynolds, a lobster dealer from Stonington, Maine, was excited to learn that the China-US phase-one economic and trade deal came into effect on Feb 14. According to the deal, China promises to purchase more agricultural products from the United States, and lobster is highlighted in the sector.,, Annie Tselikis, executive director of the Maine Lobster Dealers’ Association, said China accounted for 15 percent to 20 percent of the export value of US lobsters at the time. >click to read< 09:43

Many US lobster companies coping well with tariff impact

As the trade war between the United States and China continues, with indications that it may escalate even further, most U.S.-based lobster companies have seen their exports to China fall dramatically. Despite the decrease, many companies say the market for lobster is still strong enough to keep the impact to their companies at a minimum. Some companies that never invested heavily into Chinese exports said 2018 has been a better-than-average year. >click to read<12:36