May 22, 2015
For Immediate release: May 22, 2015
Edward Island Fishermen’s Association (PEIFA) is concerned and is seeking
answers on the current price gap between Spring lobster prices paid on Prince
Edward Island and prices paid in other provinces.
data shows the following:
PEI - $4.25 canners to 4.75 markets
Nova Scotia - $5.00 canners to 5.50 markets
Bay of Fundy NB - $6.25 markets
*Magdalen Islands – $5.50 markets
*Newfoundland - $5.30 markets
price setting processes are in place in the Magdalen Islands and Newfoundland.
majority of PEI lobster goes to the Processing sector in PEI and New Brunswick,
the demand for all lobster products has been strong for the past number of
months. In addition, lobster inventories of processed product have also been
lower than in previous years.
Much of this
increased demand has been attributed to significant growth in exports to Asian
countries seeking North American lobster products.
estimated that 20% of the PEI catch does go to the live sector market. The
PEIFA continues to advocate for more live lobster storage on PEI so that more
live market opportunities can be pursued.
The PEIFA is
also seeking an industry response as to why snow crab prices are uniform
throughout the provinces that participate in the snow crab fishery but uniform
pricing does not exist in the lobster sector.
President - Craig Avery (902) 388-7988
Executive Director - Ian MacPherson (902) 566-4050