The price of lobster went up to around $6.25 from $3.25 since the season opened. Many lobster fishermen in southwestern Nova Scotia would have been happier had the increase come earlier in the season when they needed it most. But for many fishermen the increase comes at a time when cold, stormy winter weather will keep them on shore for the next couple of months.
This price change comes at a time when lobsters crawl further from shore because of the water temperature, which prevents fishermen who fish close to shore from landing large catches. Many fishermen are questioning the sudden jump in price, given the size of it. There are others who feel cheated. But experts said that such increase in price is normal at this time as it happens every year. An industry spokesperson says the reason for this week’s jump in price boils down to supply and demand, with emphasis on the word supply. Lobsters from southwestern Nova Scotia have been shipped to various markets this season including the United States, Ontario, Quebec and Europe. Some other markets have also included Japan, Korea and Russia.
Recent Massachusetts market report states that the supply of lobster continues to be less than adequate overall for the current demand. It also said that the local landings are dropping as gear is brought in for the season and windy weather also continues to cut down fishing days.
