Too Many Lobsters Causing Price Crash
- 12 years ago
Too Many Lobsters Causing Price Crash - as part of the news series by GeoBeats.
Maine is said to have among the world's finest lobsters.
However, this season, the lobster industry in Maine is experiencing a flood of lobsters. So much so that many lobster fishermen are keeping their boats docked because the cost of bringing them out to sea to collect the lobster trap hauls is not worth the gas to power the boat. Wholesale lobster prices have dropped to less than a dollar fifty a pound, a 30 year low, and about 70 percent below normal prices. A particularly warm winter, and over fishing of haddock and codfish, the lobster’s natural predators, might be to blame for the overhaul.
The lobster processing plants in Canada can’t take the excess lobster because fisherman in Canada also had an abundant season. One family fisherman who works with his son and three brothers who learned the trade from their father says: "It's not a good business right now. My catch is ahead of last year, but my checkbook says I'm not doing as well."
Maine is said to have among the world's finest lobsters.
However, this season, the lobster industry in Maine is experiencing a flood of lobsters. So much so that many lobster fishermen are keeping their boats docked because the cost of bringing them out to sea to collect the lobster trap hauls is not worth the gas to power the boat. Wholesale lobster prices have dropped to less than a dollar fifty a pound, a 30 year low, and about 70 percent below normal prices. A particularly warm winter, and over fishing of haddock and codfish, the lobster’s natural predators, might be to blame for the overhaul.
The lobster processing plants in Canada can’t take the excess lobster because fisherman in Canada also had an abundant season. One family fisherman who works with his son and three brothers who learned the trade from their father says: "It's not a good business right now. My catch is ahead of last year, but my checkbook says I'm not doing as well."