October 9, 2015 — It’s a combination that seems to defy the laws of supply and demand – a large catch tends to lower wholesale prices. But that’s not happening this year even with Maine fishermen on track for another huge catch – about four times greater than what was harvested annually from the 1950s through the 1980s.
Industry experts say growing demand for processed lobster meat is allowing the market to absorb the additional catch while maintaining near-record prices paid to fishermen. They also say that Maine’s 4,500 commercial lobstermen, who for the most part fish from July through November, have benefited from some good timing.
The supply of Canadian lobsters available for processors this spring was down because there was so much ice in the Gulf of St. Lawrence that the fishing season was delayed. That means Maine lobsters were in high demand once the season kicked off in mid-July, a couple of weeks behind schedule.
And when the lobsters finally migrated to Maine’s coastal waters to shed their shells, they came at a steady pace rather than all at once.