The price of lobster has stopped falling and is rising again. Canada's production has begun to decline.

Published 2024년 6월 14일

Tridge summary

Canada's two largest lobster production areas have closed for the season, causing a decrease in production and a predicted market price increase. The current market offer is low, making it unprofitable, and the reduced catch is expected to drive prices up. Canadian exporter Tangier Lobster plans to increase prices for customers by $0.25-0.50/lb starting Friday. The prices for Canadian and American exports and wholesales are also low, with Canadian exports seeing a 5% drop and US wholesale prices down by 4-5% since May.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

First, Canada's two largest production areas (areas 33 and 34) ended their fishing season on May 31. Areas 33 and 34 account for a quarter of Canada's production and about 15% of the world's production. Since the fishing season started in April, the production of some other production areas in Canada has gradually slowed down. Industry insiders believe that Canada's production peak this year has passed, and the market will see upward changes in the next week or two. More than a month ago, many new production areas in Canada started fishing, and production increased significantly, causing the Nova Scotia and St. Lawrence Gulf dock prices to fall from a high of CAD 20.0/lb to CAD 8.0/lb. Stewart Lamont, general manager of Canadian exporter Tangier Lobster, told UCN that the Nova Scotia dock price this week was CAD 6.50/lb, and the price is expected to rise soon. Starting from this Friday, he will increase the price to customers by $0.25-0.50/lb. Lamont said: "The closure of the two ...

Source: Foodmate