What factors play a role in the fluctuations of
lobster prices?
-
Lobster prices are low due to the early warm
water currents in which the lobster fishing becomes much better. The lobster
industry plays a large role in the economy in many east coast states and
because of this, there are becoming excess amounts of lobster fishing boats.
The large amounts of fishing boats and the surplus supply of lobster creates
very low prices for the lobster itself which puts fisherman in a position where
they are making very little profit. The species of lobster also contributes to
the consumption because, like most seafood, it can only be transported so far
before it loses its value, because of this, lobster that is caught on the east
coast is mostly being consumed on the east coast.
How does the quality of lobster affect the price?
-
The quality of lobster meat is slowly declining
because of the rising global temperatures. In Canada, the warm water
temperatures are creating stress on the lobsters, which is causing quality of
the meat to decline. The decline in lobster meat quality means that the
fisherman will not get the prices that they usually receive per pound of
lobster.
How do different lobsters vary in price?
-
The hard shell lobsters are more expensive
because the meat completely fills the shell. A soft shell lobster’s shell has
recently molted and because of this, the empty space in the shell fills with
water and that is why it is less expensive. Soft shell lobsters can also not be
shipped as far because they do not last as long outside of the water.
How have fuel prices affected lobster fisherman?
- The high gas prices make it very difficult for
fishermen on the east coast and even around the world to make a profit because
they have to spend a large amount of what they made on their previous trip on
fuel. Fuel is only one of the many expenses that fisherman have to manage and
also take away from their overall profit.
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