Slow PEI lobster fishing this fall expected to keep prices up

But a strong Canadian dollar against US dollar could put pressure on processors. 

The Prince Edward Island (PEI) fishery is facing a drop in lobster catch this fall, compared with spring, pushed by a lower number of fishermen according to Boby Jenkins, president of Prince Edward Island Fishermen’s Association, reports The Guardian Canada.

According to Jerkins, that may help maintain prices.

However, the Lobster Council of Canada said the Canadian dollar has strengthened, which could put pressure on Canadian lobster processors and live shippers to increase selling prices.

“While a strong dollar helps Canadians buy wine from California or travel to New York City for a holiday, it is the last thing we want as exporters of Canadian seafood products,” said Geoff Irvine, he council’s executive director.

Jerkins said the Island’s lobster marketing board, which is funded through a one cent a pound levy paid by lobster fishermen on the product they sell and by the first point of sale buyers, will help keep lobster prices high.

In addition, he suggested there could be opportunities for joint promotions going forward between the marketing board and the fishermen’s association’s Master Lobster Brand.

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