Tag Archives: surging fuel and bait prices
Maine lobstermen snipped by inflation as 2022 results fall nearly 50%
Fishers of Maine lobster, one of the most lucrative seafood species in the U.S., had a smaller haul during a year in which the industry battled surging fuel and bait prices, rebukes from key retailers and the looming possibility of new fishing restrictions. Maine lobster has exploded in value in recent years in part due to growing international demand from countries such as China. The industry brought about 98 million pounds of lobster to the docks worth about $389 million in 2022, Maine regulators said Friday. That was more than 11% less than the previous year, in which they harvested more than 110 million pounds of lobster worth more than $740 million. The value of lobsters also fell to a little less than $4 per pound at the docks, the lowest since 2017, a year after setting a record of more than $6.70 in 2021. >click to read< 10:33
