Tuesday, April 1, 2014

Bad Weather Drives Up Lobster Prices

Poor weather conditions is helping drive up the price of lobster. For the last two years, fishermen have been upset because the market was flooded with product and prices were hovering around $3.50 per pound. However, smaller catches this season have dealers selling lobster between $6 and $7 dollars per pound. Fisheries Minister Keith Colwell says he'd like to see more assurances in the market.

Colwell believes it's important to introduce a levy on catches to help promote lobster. He says it will create more demand and give fishermen more money for their product.