$18 a pound? Why lobster prices in N.S. are hitting near record levels

globalnews.ca:

Lobsters in southwestern Nova Scotia are selling at the highest price seen so far this season, as fishermen struggle with high overhead costs and a lower catch rate than in previous years.

Tommy Amirault, president of the Coldwater Lobster Association, said the current going price for lobster is about $18 a pound.

“This is definitely higher than average,” he said, attributing the high asking price to limited supply combined with high demand, colder water temperatures, and minimal catches.

“This year’s been slower. Catch rates were slower, it’s been a bit trickier season. The water was colder at the bottom when we started and that in turn makes the lobsters a little bit harder to catch.”

In comparison, Amirault, who works out of Pubnico in Yarmouth County, said although it’s difficult to gauge a “typical price” for this time of year — he noted it wouldn’t be uncommon to see prices set at $14 or $15 in previous years.

“I don’t want to use the term ‘unprecedented’, but it (the price) is definitely high,” he said.

The southwestern Nova Scotia area is said to be home to one of the country’s most lucrative commercial fisheries. The municipality of Barrington is referred to as the “Lobster Capital of Canada.”

“The lobster fishing grounds off Barrington’s shores are amongst the richest in the world and lobster has been the economic backbone of communities in this area since the 1800’s,” read ablurb from the Nova Scotia website.

“They even build a Christmas tree out of lobster traps during the holidays.”

As of Friday morning, Clearwater Seafoods, a seafood retailer in Nova Scotia, has its premium live lobster priced at $19.25 a pound.

Despite the recent challenges locating a sustainable amount of lobster, Amirault noted that