With restaurants slowed or shuttered, consumers are already paying less than $6 per pound in some markets – $2 to $3 dollars less than typical of this month in Maine.
Lobster prices are falling in New England as the industry deals with the effects of the coronavirus pandemic, and they could drop even more later this summer, industry officials said.
The U. S. lobster fishing industry, based mostly in Maine, has had to cope with a supply chain that has been disrupted by the pandemic. Wholesale prices were lower than previous years this spring, and consumers started to see lower prices at markets earlier in June.
Members of the industry said prices could likely fall more in July. America’s lobster catch typically picks up in the summer, when lobsters shed their shells and reach legal trapping size. This year, fishers will likely bring lobsters to the docks in a time when restaurants are slowed or shuttered and seafood processors aren’t taking nearly as many of the crustaceans, industry members said.
That could translate to lower prices to consumers, who are already paying less than $6 per pound for lobsters in some Maine markets. Prices around $8 or $9 per pound are typical of this month in Maine.
