September 13, 2013
PEIFA News Release – For Immediate Releasem - September 13th, 2013
Curious lobster season continues
The Prince Edward Fishermen’s Association and harvesters of the Fall lobster fishery in LFA 25 and are curious as to why there has been no upward movement in price even though the catches have dropped off significantly in the past several weeks.
In most areas, catches are down from last year and daily boat quotas have not been imposed as was the case in the Spring 2013 lobster fishery.
Much less product has been imported from Maine for processing compared to the Fall fishing season of 2012. There has also been a reduction in plant capacity in 2013 in PEI and New Brunswick which further suggests catches are lower.
In 2012, Maine fall lobsters came on six weeks earlier than in past seasons. This created a surplus in the market that lead to low prices on both sides of the border. Recent export reports state that frozen lobster product shipments are up 40% from 2012. This should rectify any previous inventory imbalances that may have existed.
Current prices paid to lobster harvesters are identical to prices paid 25 years ago and are at rates that are not sustainable for harvesters to continue.
The results of two independent studies analyzing the east coast lobster industry are due to be completed within the next two months.
The fishers of the Spring and Fall fisheries are awaiting the report recommendations and seeking answers to their questions on low lobster prices.
For more information contact Ian MacPherson at 902 566-4050 or PCFA President Lee Knox at 902 853-5524
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