April 1, 2013 — Looks like Old Man Winter has been able to accomplish what lobster fishermen haven’t been able to do for themselves over the past few seasons. He’s driven up the price of lobster.
Last week fishermen – those who fish during the winter months – were being paid a shore price of $8 a pound for their lobsters. That’s a far cry from the $3 price back in the fall.
And while lobster prices typically go up over the winter months when there is a shortage of supply, in the past couple of seasons the higher price still wasn’t what fishermen had been hoping for.
There has been a catch with the higher price, however, and it hasn’t always been in the lobster traps. Part of the reason for a more limited supply has been due to the weather over the past few months. Numerous storms and high winds in January, February and March have kept fishermen ashore more often than in past years. Although now that spring has arrived, fishermen are getting out on the water more.
“Without a doubt weather has been a major factor for the first time in four or five years,” says Marc Surette, the executive director of the Nova Scotia Fish Packers Association. “On top of that it seemed to set in earlier than usual and rarely offered many windows to get out. That limits the supply drastically when coupled with very small catches throughout the winter.”
Surette called the situation this winter a “perfect example” of how the supply/demand formula works in the fishery – fewer lobsters landed equals higher price. At this same time, this isn’t a peak time for the product.
Read the full story at the Yarmouth County Vanguard