November 15, 2017 — For the first time since 2013, state officials will allow new fishermen into the lucrative baby eel fishery.
The Maine Department of Marine Resources says it plans to hold a lottery to issue at least seven new licenses to harvest baby eels, or elvers, in 2018. The last time DMR issued new licenses in the fishery was in February 2013.
The state started accepting lottery applications at noon on Wednesday.
For the past four years, the fishery has generated between $8 million and $13.4 million in gross statewide annual revenue for Maine’s approximately 1,000 licensed fishermen, which includes members of Maine’s native Indian tribes. During that time, the average annual statewide price offered to fishermen has ranged from $874 to $2,171 per pound.
Each new license holder will be allowed to harvest at least four pounds of elvers during the 2018 season, which is scheduled to begin in late March. Based on 2017 prices, when Maine fishermen were paid on average just above $1,300 per pound, four pounds of elvers could amount to nearly $6,000 in income, DMR officials said.
Read the full story at the Bangor Daily News