Prices

See all articles

Poor catches, high demand from China driving up lobster prices

Bad weather conditions are causing low landings in Canada.

Low lobster landings in New England and Canada, and large exports to China, are prompting high prices this winter, reports Gloucester Times.

Although winter is typically a slow season for US lobster fishermen and an active one off Atlantic Canada, catch is slow in both countries this year partly due to the bad weather.

In addition, exports to China are increasing in the run-up to its New Year, to be celebrated Jan. 28.

Prices have gone up from $9 (€8.50) to $11 (€10.40) per pound in September to $13 (€12.30) per pound at this time of the year.

Meanwhile, prices charged by wholesalers in the United States are rising, too. The wholesale price of a 1.12 pound live hard shell lobster rose about $1 (€0.94) in the New England market from December to January, when it was $7.75 (€7.30) per pound.

---

For more seafood news and updates, follow us on Facebook and Twitter or sign up for our daily newsletter.