North American lobster industry on edge over record prices leading into spring season
Fresh Common Lobster
Seafood
Canada
United States
Market & Price Trends
Published Mar 25, 2024
Tridge summary
The United States is currently experiencing a significant shortage of live lobster inventory from Maine and Canada as the major spring fishing season approaches. In 2023, lobster landings in Maine saw a decline to 93.7 million pounds, marking the lowest figure since 2009, according to the Maine Department of Marine Resource. Despite this decrease in landings, the price paid to fishermen increased to $4.95 per pound from $3.97 per pound in 2022, leading to an additional $72 million in earnings for the harvesters compared to the previous year. This situation highlights the challenges and economic dynamics facing the lobster industry.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
A lack of inventory for lobster from both Maine and Canada has US buyers scrambling for live lobster ahead of the major spring fishing season. In 2023, Maine fishermen's lobster landings were at 93.7 million pounds, the lowest figure since 2009, according to recent data released by the Maine Department of Marine Resource. Prices paid to fishermen increased from $3.97 (€3.67) per pound ...
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