March 14, 2022 — Lobster prices have soared so much that restaurants are either giving their customers sticker shock, or taking it off the menu entirely.
Why it matters: The lobster price shock isn’t just a supply problem or just a demand problem. It reflects both — and is a microcosm of the U.S. economy.
By the numbers: Maine lobstermen were able to sell their catch straight off the boat for $6.71 a pound in 2021, according to the Maine Department of Marine Resources. That was up 59% over the pandemic-depressed 2020 level — and up 39% over 2019.