The fishing industry in Newfoundland is facing acute problem due to the fall in lobster prices. Some fishermen are refusing to sell their lobster catches and this turmoil is reaching into nearly every sector, with those who harvest lobster also feeling the pinch from low prices. It is said that the buyers are offering as little as $3.25 per pound for the tasty crustaceans, and prices traditionally drop as the season advances.
The price is so low that some fishermen are vowing not to sell their catches at this price, while others say it’s not even worth their trouble to set their pots. North Harbour, Placentia Bay fisherman Oakley Johnson, opined that they are not going to sell for $3.25 if there’s anything else to do with them. He told that he has about 300 pounds of live lobster stored in boxes in the harbour, and that’s where they’ll stay until the prices increase.
He also said that commercial buyers are not welcome but the area residents wanting to buy fresh lobster can stop by. It is true that lobster landings have been low in Placentia Bay again this year, meaning fishermen need a premium price just to break even. Experts said that the prices in this province are generally lower than those paid to fishermen in Nova Scotia, where lobster is a mainstay of the fishery. Figures show nearly 3,000 licence-holding harvesters in this province landed 2,581 tonnes of lobster in 2007, with a landed value of nearly $30 million In Nova Scotia, fishermen landed nearly 31,000 tonnes in 2006.
