For Immediate Release August 27 2018

As week number two of the Prince Edward Island Fall lobster season concludes, prices paid for the first two weeks of the season are being communicated and validated by Island harvesters.

Despite warmer than normal temperatures, harvesters report robust product is being delivered to buying stations in Prince County.

In the past few months, many harvesters have invested significant amounts of money for onboard storage equipment to ensure lobster vitality is maintained despite the varying climatic conditions that occur on the water.

Factors such as strong international demand, international tariff reductions, and a favourable US dollar exchange suggest that fair and equitable prices should be paid to all harvesters that participate in the fall season fishery.

In addition, the fall lobster season has a lower number of boats participating in the fishery compared to other seasons.

It is therefore puzzling that the New Brunswick shore price is tracking 25 cents per pound higher than prices being paid on Prince Edward Island particularly when some of this product is being processed in New Brunswick.

The Prince Edward Island Fishermen’s Association (PEIFA) will continue to monitor this situation closely on behalf of its’ membership.

In addition, the PEIFA is seeking from the buying sector on PEI, clarification as to what factors are contributing to the price differential and why a differential currently exists.

For more information please contact PCFA President Lee Knox at (902) 853-5524 or PEIFA President Bobby Jenkins at (902) 969-8995.