June 12, 2017 — Maine elver fishermen netted more than $12 million in baby eels in the season that ended last week — the fourth-highest grossing year since 1994, officials said.
The season came to a close last week with 9,282 pounds of elvers caught in Maine, which is 334 pounds shy of the statewide catch limit, according to Maine Department of Marine Resources.
Maine, where more eels are caught than any other state, has a yearly statewide limit of 9,616 pounds on elver harvests, and by law the season ends either when that quota is reached or on June 7.
Maine’s 1,000 or so licensed elver fishermen on average earned just above $1,300 per pound this year, keeping the average price above $1,000 per pound for the fifth time in the past six years. The highest average price was in 2015, when fishermen earned more than $2,100 per pound but a cold spring resulted in fishermen catching only 5,200 pounds of elvers statewide.
The $12 million annual harvest value is the fourth-highest total for the fishery since 1994, according to DMR statistics. The highest-ever statewide harvest value was $40.3 million in 2012.
Maine’s elver fishery has been one of the state’s most valuable fisheries since 2011, when changes in global supply and demand made prices in Maine nearly quintuple, from $185 per pound to nearly $900 per pound. The baby eels, about 2,000 of which comprise a pound, are shipped live to East Asia, where they are raised in aquaculture ponds and later harvested for the region’s seafood market.