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Plunging Lobster Prices Have Been "Devastating"

Plunging Lobster Prices Have Been "Devastating"

The cost of Maine lobster, which accounts for 80 percent of lobsters in America, has plummeted. What may be a bargain for some has left others in a snag: Lobstermen and northeastern fishing communities, hit hard by the price drop, are struggling to survive.There are a couple of reasons for this price drop. The budget conscious are consuming less of the luxury seafood item. Also, Canadian processors, which buy more than half of Maine's lobster harvest, have been short on credit as many were tied to failing Icelandic banks. This has left Maine with a surplus of lobsters.

"This is as devastating to the state of Maine as Hurricane Katrina washing away all the boats and blowing down all the wharves," says Dana Rice, a lobster dealer who's been in the business for more than 30 years. Many villages are coming together to better the situation. One held a lobster bake on the town pier to get rid of its lobster surplus.

After hearing about the drop in Parmesan cheese prices, are you surprised to learn of the lobster crisis? If you've eaten lobster recently, have you noticed a dramatic price difference?


Join The Conversation
Jude-C Jude-C 8 years
Dude, I could eat lobster every day.
CaterpillarGirl CaterpillarGirl 8 years
I dont buy lobster for the fact that its not worth what you pay for it. It started out as a poor persons meal, maybe it belongs that way.
sfunkera sfunkera 8 years
I hadn't noticed this but would gladly contribute to buying some!
hippiecowgirl hippiecowgirl 8 years
I don't care for lobster so it's not something I'd notice the price. I feel bad for those whose livelihood depends on the market.
doogirl doogirl 8 years
My heart breaks for the lobstermen. I am the daughter of a farmer, so I know that when prices are low, it's bad. Hopefully it will pick back up, many people love lobster!
ilanac13 ilanac13 8 years
well i think that this is just another sign of the times and it sucks. we all think about how the farmers around the country are struggling, and this is kind of the same thing. i didn't think about how some of the Canadian lobstermen would be tied to the icelandic market, but that kind of makes sense too. i hope that things pick up for everyone.
Katharine Katharine 8 years
I have been eating a lot of lobster lately because it is so cheap. They are asking people to buy lobsters to try to help the lobsterman. It really is a sad situation but personally I am enjoy the cheap eats. The Maine economy in general is hurting but there is a lot of focus on the lobsterman. I am being completely selfless and forcing myself to eat lobster ;)
mich-elle mich-elle 8 years
I live in Maine and I think comparing this to KATRINA is completely insensitive and inappropriate. Katrina damage totaled $81.2 billion and cost 2,000 lives. Seriously.
tlsgirl tlsgirl 8 years
Hehe, colormesticky. That totally makes way more sense.
colormesticky colormesticky 8 years
They ate them to get rid of the surplus? They couldn't have just, ya know, put them back?
Jude-C Jude-C 8 years
Oooh, what? Lobster's cheap now? :feedme: It's very unfortunate about the lobstermen, though.
depeche3 depeche3 8 years
I haven't found any cheap lobsters from companies that ship to the west coast. Does anyone know of any great lobster places that ship cheap Main lobsters?
shoneyjoe shoneyjoe 8 years
My girlfriend and I had a delicious lobster dinner last week purchased in Burlington, MA for $3.99 / lb. Definitely not complaining about that one.
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