The Market Update of Mackerel, Herring, Lobster, Snow Crab on the East Coast of Canada

Snow Crab:
The snow crab season just started. The price of snow crab lands in Nova Scotia is expected to be USD 12/lb FOB Port. However, the quota increased by 29%, and it is the first quota increase in more than one decade. In addition, it is difficult to tell the expected price under the inflation, high operating costs of fuel, labor shortage, and trade embargo on the Russian crab. Newfoundland and Labrador are expected to start in the coming weeks.

Mackerel and Herring:
Maritime DFO has advised there will be no commercial or bait fishing on herring for biomass stock to recover.
Mackerel and herring play a crucial role in the seafood ecosystem; the industry has experienced significant quota cuts in the past 3-4 years.
It is a critical species for the livelihood of the main processor on the East Coast; over 1,300 fishermen will be affected.

Lobster:
The boat price of lobster is USD 15.50/lb, with limited fishing activities due to strong wind and cold weather.
The price level is at an all-time high!! The major fishing and processing season in LFA 24/25/26 will start on 10 May, and boat prices will usually be established one week after. Biomass recovery is healthy, but we will know if the cost can be sustainable at this level.