March 3, 2023 — Fishers of Maine lobster, one of the most lucrative seafood species in the U.S., had a smaller haul during a year in which the industry battled surging fuel and bait prices, rebukes from key retailers and the looming possibility of new fishing restrictions.
Maine lobster has exploded in value in recent years in part due to growing international demand from countries such as China. The industry brought about 98 million pounds of lobster to the docks worth about $389 million in 2022, Maine regulators said Friday. That was more than 11% less than the previous year, in which they harvested more than 110 million pounds of lobster worth more than $740 million.
The value of lobsters also fell to a little less than $4 per pound at the docks, the lowest since 2017, a year after setting a record of more than $6.70 in 2021.
The industry has experienced growth in recent years, as fishermen have caught more than 96 million pounds of lobster per year for 13 years in a row after never previously reaching that mark. But it is also wrangling with threats such as proposed rules to protect rare North Atlantic right whales, which are vulnerable to entanglement in gear.