Prince Edward Island Fishermen's Assoc.

News Release - Thursday May 24 2012

After receiving statements for the first two weeks of Spring lobster season, PEI harvesters are still finding a gap exists on prices being paid across the Island.
Prices paid for Canner lobsters are up to 75 cents per pound lower in some areas.
A difference of up to 70 cents per pound is also being experienced in the Market lobster segment.

The Prince Edward Island Fishermen’s Association (PEIFA) is conducting internal price comparisons with members across the Island. This is in addition to the Province of PEI Weekly Fish Price Report. Week two found Canner prices ranging from 3.75 to 4.50 and Market prices of 4.25 to 4.95 per pound.

The demand for Canner lobsters has increased over the past several years narrowing this historical price gap. The price differential paid in the same lobster category is larger than in past years and the PEIFA is researching why this differential exists. All pre season lobster inventories were low and demand for canner lobsters remains strong.

The PEIFA will continue to monitor prices throughout the 2012 Spring and Fall lobster seasons. Each additional 5 cents paid to Island fishers pumps over one million dollars into the local PEI economy. This represents a significant economic contribution by PEI’s 3rd largest industry.

For more information please contact Mike McGeoghegan at (902) 394-3510 or Ian MacPherson at (902) 394-0457.