P.E.I. Fishermen’s Association’s managing director Ed Frenette informed that the catches are on par with last year but the financial returns are not expected to be the same. He added that it is roughly a $25-million loss to the Island’s economy, based on last year’s prices. According to him the prices are down by at least a dollar a pound from last spring. Shore price ranges from $4 to $4.50 per pound for canners and $4.50 to $5 per pound for markets.
Ed Frenette said that the input costs, fuel in particular, are higher this year. Some fishermen of the Island are of views that the fishing industry here could benefit from more competition on the wharf, and from more processors, even if it means breaking the agreement the provincial government has with Ocean Choice to limit the number of processing plants.
Frenette told that more plants mean a better price for lobster and more processing jobs but it might be a balance. The government has decided to allow buyers to apply for buying licences after the season started hasn’t had any takers. Buyers would have had their plans made by then. Provincial Fisheries minister Allan Campbell is unconvinced that more processors would have an impact.
According to Campbell the department is in touch with processors and was informed that, while they are quite busy, they are able to keep up with the supply. He also said that his department has contracted someone to prepare a report on the market conditions as they exist locally and in the United States.
