MEDIA RELEASE…
April 15, 2010
Lobster Fishermen Support Move To Change How Lobster Prices Are Set
Representatives from all of PEI’s fishing communities voted unanimously Wednesday night to work towards the creation of a new marketing board that would negotiate lobster prices. Federal and provincial marketing legislation allows farmers and fishermen to set-up commodity boards that can bargain with buyers to establish prices.
“Lobster continues to be in high demand in the United States and Europe, but fishermen have little clout to get a fair share of what consumers are paying” says Mike McGeoghegan, the president of the PEI Fishermen’s Association.
Lobsters prices at the wharf have fallen by 50 percent over the last three seasons. Last year prices were the lowest in 25 years, down to three dollars a pound, costing fishermen more than 40 million dollars.
A marketing board tries to negotiate a price with buyers. If there’s disagreement, then the legislation allows for mediation and, finally, arbitration to set the price. Setting up a marketing board would take several months and include a referendum. Sixty per cent of fishermen would have to agree to it.
Industry analysts are telling fishermen here and elsewhere that the North American economy is improving and lobster prices are on the rise, especially for the smaller processed lobster that comes from PEI.
“Many of the people in the marketing chain, brokers, retailers, don’t really care what the price of lobster is as long as they get their cut. As fishermen we have to do everything we can to get a fair share of that price, and to stop falling further behind.” says McGeoghegan.
Fishermen will meet again next week to learn more about setting up a marketing board, and share information about the upcoming season.
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For further information please contact:
Mike McGeoghegan,
President, PEIFA
(902) 566-4050
(902) 659-2264
