PRESS RELEASE - APRIL 29TH, 2010 

Some Positives Seen in Lobster Markets Important to PEI

 

          Nova Scotia is by far the biggest supplier of live lobsters to U.S. and European markets, while PEI is an important player in the processed lobster trade: whole cooked lobster and tails, lobster frozen in brine, and lobster meat ready for use in restaurants.  Market analysts say they continue to see weakness in “live” lobster markets, but they say prices for processed lobster markets are strengthening.

 

          In a recent presentation John Sackton of Seafood. Com said, “Live markets are weak for this time of the year, inventories have been high” but “tails and meat are increasing in price, driven by increased foodservice demand.” 

 

           PEI supplies just 3% of the live market, but 20%  of the lobster meat production in the region,  and almost half the frozen lobster in brine packs that are popular in Europe.

 

            “There are other positives” says  Ed Frenette, general manager of the PEI Fishermen’s Association. “Inventories were unusually high a year ago, but not now, and processors were struggling to get financing in 2009. This year there are 2 new companies looking for lobster, Minigoo Fisheries in Lennox Island, and Mazzetta in Beach Point, and other new buyers.  It’s up to PEI processors to recognize that they have lobster products people want, and demand prices from the market that ensure fishermen are paid fairly too.”

 

            There is also increased demand for something else PEI can supply, smaller live lobsters. Consumers may be staying away from eating in restaurants, but they’re buying more lobster in supermarkets to eat at home.

            

  

 

 

-30-

 

 

For further information please contact:

 

PEI Fishermen’s Association

(902)  566-4050

Latest News

News | Archives
October 25, 2016
Mackerel Press Release

October 21, 2016
Maritime Electric Cable Project

October 17, 2016
Tribute to Captain Tony Carter
Tribute to Tony Carter by Sara Roach Lewis .../more >

October 12, 2016
Logbook Reminder

October 7, 2016
71 years a fisherman

October 7, 2016
Fishermen’s Forum 2016
Sustaining the Fisheries: Challenges and Changes - November 21st- 22nd, 2016 - Antigonish, NS .../more >

October 6, 2016
Tuna Reallocation Update - October 6th

September 28, 2016
Tuna Reallocation Update

September 23, 2016
Anthony "Tony" Carter

September 21, 2016
Kings Country News - Lobstering ban and 25,000 in fines



Renew your
PEIFA MEMBERSHIP

 

Renew Now

© Rachel Peters Photography