With poor weather conditions and much of their fishing gear pulled from the water, not many fishermen are reaping the rewards. In other words the supply of lobster has fallen down drastically and this gives rise to the price which remains low during past few months. Matt McAleney at New Meadows Lobster, a lobster dealer in Portland, said that the price increase is simply a result of supply and demand.
McAleney told that the supply is low and demand is better than it should be at this time of year as it’s capitalism at its finest. This change in prices is welcome because the industry has experienced rock-bottom prices in recent months. It is said that the global economic crisis have plunged the prices, resulting in a glut of lobsters on the market and bargains for lobster lovers.
Records show that lobstermen two weeks ago were getting $2.25 to $2.80 a pound for their catch. Patrice McCarron, executive director of the Maine Lobstermen’s Association, admit that the “boat price” nudged up last week, and fishermen this week are receiving $4 to $5.40 a pound. She told that the change in price is step in right direction for fishermen who have struggled to make ends meet with prices so low. At the same time, not many fishermen are benefiting; most have pulled their traps for the season, while those who are still working have been hampered by poor weather that has keep them on shore for the most part.
It is found that the higher prices come after a strong holiday season. At Three Sons Lobster & Fish, holiday sales were triple what they were a year ago, in part due to the low prices. McCarron said that boat prices are still lower than they were last year at this time and lobstermen continue to struggle amid fears that prices could be low this coming year if the economy doesn’t improve.
