November 7, 2019 — A drop in the catch of lobsters off Maine has customers paying more and fishermen concerned about the future.
Maine’s harvest of lobsters was about 40% off last year’s pace through September, and while October and November tend to be months of heavy lobster catch, wholesale prices have soared amid the slower supply. Live 1.25-pound lobsters were wholesaling for nearly $10 per pound in the New England market Nov. 1, an increase of nearly 20 percent from a year ago.
The drag in catch has also contributed to an uptick in price at some retail fish markets. Some stores in Maine, which is the center of the U.S. lobster industry, are selling lobsters for $12 per pound. That is about 10% more than a year ago.
The price of lobster is impacted by numerous factors, including foreign demand, beyond just the size of the catch. But such a precipitous drop in supply is bound to create “tremendous upward price pressure,” said John Sackton, an industry analyst and publisher of SeafoodNews.com.
Read the full story from the Associated Press at The New York Times