The Canadian lobster season is about to begin, and global oversupply is causing a "price cold wave."

The Canadian Lobster Association predicts that the opening price for hard-shell lobsters in the new season will be only 10 Canadian dollars per pound, a drop of about 15% compared to last year. Global market demand is weak, Chinese imports are constrained by tariffs, and European buyers are waiting for price reductions. U.S. wholesale prices have fallen for three consecutive weeks, with 1.25-pound live shrimp dropping nearly 40% from their April peak. Tangier Lobster's general manager, Stewart Lamont, bluntly stated, "Everyone knows there is too much supply, customers are unwilling to pay, and price cuts are just a matter of time." In addition to the slowdown in demand, trade barriers are also putting pressure on Canadian lobsters. Tariffs on exports to China are as high as 32%, far exceeding the 17% for the U.S., eliminating any competitive advantage. Geoff Irvine, executive director of the Canadian Lobster Association, revealed that at the Qingdao Fisheries Expo, lobsters from ...