Wednesday, June 4, 2014

Canadian Lobster

Canadian Lobster Fishery Shutdown

The Canadian lobster fishing season is coming to a standstill along some parts of the coast.  In Nova Scotia, dealers have stopped buying lobsters and lobstermen in P.E.I. have been told to tie up their boats.  The shutdown seems to be happening for several reasons.
In Nova Scotia, supply is outstripping demand.

  The good weather along with healthy catches has led to more lobster being brought into the docks than the dealers can handle.  The lobster market after Mother's Day tends to be on the slow side and the dealers have not been able to shift enough of the catch.  The result is that their pounds have reached capacity.



This backup seems to have happened rather quickly.  Up until now, Nova Scotia fishermen have been getting paid $4.50 per pound for their lobster, which is a very healthy boat price.  In previous years, as the market crept towards the saturation point, the boat price would drop down.   For example, in 2011 and 2012, Maine lobster fishermen were paid lows of  $2.00 to $2.50 per pound for their lobster when the market backed up. Continue reading

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