Price of Lobster: Hits 5-year High

The price of lobster is sitting at a five year high. Fishermen in LFA's 33 and 34 are selling their catch for $6.00 per pound after the season opened with prices set at $3.25 in November. James Mood is the president of the 1688 Professional Lobster Fishermen's Association. The PLFA formed in January in an effort to drive wharf prices up to at least $5.50 per pound. He says a combination of factors have helped push the price up - including the formation of their group. "I think the fishermen pushed it up themselves when they stopped selling lobsters - they just stopped. They had lobsters, in tubes and holding facilities they just stopped selling to the dealers. This industry works on supply and demand," The PLFA now boasts more than 800 members and Mood says they are half-way to their membership goal. The association's target is to have 80 percent of 1688 licence holders from Shelburne to Digby signed up before next season.