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Local prices fell from $17.
50 a pound on April 3 to $10 and $11 on Monday, as the lobster fishing industry opens at more locations in Nova Scotia and coastal provinces
.
Spring on-board prices tend to fall as more and more lobster supplies enter the market
.
50 a pound on April 3 to $10 and $11 on Monday, as the lobster fishing industry opens at more locations in Nova Scotia and coastal provinces
.
Spring on-board prices tend to fall as more and more lobster supplies enter the market
.
Prices at local grocers also dropped, with Halifax's Atlantic supermarket selling live lobsters for $22.
99 a pound on Monday
.
Live lobsters at Sobeys in Halifax are selling for $17.
99 a pound, down $3 from last week
.
99 a pound on Monday
.
Live lobsters at Sobeys in Halifax are selling for $17.
99 a pound, down $3 from last week
.
Previous all-time highs have also contributed to a steeper decline in lobster CIF prices in 2022
.
.
"When all the boats stop fishing and the supply goes down, they drive up the price," said the lobster fisher and president of the East Coast Fishermen's Conservation Society
.
"I think they've got a niche now and can supply at that price
.
"
.
"I think they've got a niche now and can supply at that price
.
"
Buyers are also willing to pay a premium to fishermen for good future relationships
.
Fisheries in southwest Nova Scotia will close in May and reopen in November, flooding the region with lobster
.
.
Fisheries in southwest Nova Scotia will close in May and reopen in November, flooding the region with lobster
.
Lobster Fishing Area 32, east of Halifax, is open to 150 licensees, where fishermen pay $11 a pound when they first come ashore
.
.
In southwest Nova Scotia, Canada's largest lobster fishing areas 33 and 34 have been open since late November, and fishermen can get $10 a pound on Monday
.
.
"We're off to a good start on the East Coast in terms of catch and quality," the lobster buyer said
.
"It's encouraging that the quality of the hard-shell spring lobster is as good as ever
.
" However, he doesn't expect prices to return.
Highs of the past few months
.
.
"It's encouraging that the quality of the hard-shell spring lobster is as good as ever
.
" However, he doesn't expect prices to return.
Highs of the past few months
.
"I have to admit, I think $17.
50 is irresponsible," he said
.
"I don't think it respects the circumstances of our customers around the world
.
"
50 is irresponsible," he said
.
"I don't think it respects the circumstances of our customers around the world
.
"
With much of the country under full or partial lockdown, there will be less demand in China ,
he said .
he said .
"There is not enough market, supply and demand will change and we will adjust prices
.
So I guess prices will have to come down
.
"
.
So I guess prices will have to come down
.
"
The lobster industry has experienced a notable rebound since the first wave of COVID-19 temporarily shut down exports in the spring of 2020
.
Canadian lobster exports topped $3.
2 billion in 2021, the highest annual total on record and more than $700 million above pre-pandemic levels
.
.
Canadian lobster exports topped $3.
2 billion in 2021, the highest annual total on record and more than $700 million above pre-pandemic levels
.
