Lobster prices high as catch drops and China imports climb

Consumers who were paying $9 to $11 per pound are now sometimes paying upward of $13 per pound

lobster

PORTLAND, Maine (AP) — Lobster prices are high this winter because of a lack of catch off of New England and Canada and heavy exports to China.

Winter is typically a slow season for U.S. lobster fishermen and an active one of Atlantic Canada. But lobstermen say no one is catching much in other countries this year, in part because of bad weather.

January is also a major month for lobster exports to China, which celebrates its New Year holiday on Jan. 28. It’s increasingly popular to celebrate the Chinese New Year with lobster. That is causing demand at a time when supply is low.

Consumers who were paying $9 to $11 per pound for a lobster in September are now sometimes paying upward of $13 per pound. Prices charged by wholesalers are rising, too.

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Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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