Scallops account for New Bedford's status as the largest U.S. commercial fishing port in terms of value at $249 million in 2009, according to the latest federal fishery statistics. And scallops, unlike lobster, have proven remarkably recession proof with prices rising steadily through the downturn even as the amount caught held relatively steady. The wholesale price for a pound of the U.S. sea mollusk is $11.20, 41% higher than in November 2007.
U.S. fishermen say the weak dollar makes the famously meaty scallops that thrive in the northern Atlantic more affordable.
Belgium, France, and other countries are buying more. Fresh -scallop exports to Canada alone jumped 110% in the first four months of this year compared to the same period last year and rose 22% to France, according to federal trade statistics.
At the same time, the U.S. scallop supply is limited by federal conservation rules to an annual catch of roughly 50 million pounds. Areas where they can be caught are rotated to allow beds of young scallops to grow.
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