Cold weather sends lobster prices to record high

Last Updated: Monday, April 16, 2007 | 1:08 PM ET

CBC News

Restaurateurs and high-end grocers in the United States are scrambling to find any reserves of lobsters as an unusual shortage has left consumers paying record-high prices.

Cold water temperatures and strong wind have forced U.S. retailers to raise their prices considerably, charging consumers about $30 Cdn per kilogram, nearly double the price from last year.

Lobster distributor Peter McAleney, who owns New Meadows Lobster, was exasperated by the shortage.

"Everything that can go wrong has gone wrong," he said.

Bob Bayer, director of the University of Maine's research and conservation Lobster Institute, said the unusually cold water has made the lobsters less hungry and less likely to venture out to seek food in traps.

Prices expected to drop

Prices are expected to ease as the weather warms up and the Canadian lobster season opens at the end of April.

Canada exports as much as $1 billion in lobster sales, sending the delicacy to 55 countries around the world, according to Agriculture and Agri-Food Canada.

'It's the highest I've ever seen.'—Steve DiMillo, restaurateur

Until the expected drop, restaurateurs like Steve DiMillo have had to develop new methods to deter diners from ordering pricey lobster dishes. DiMillo, who operates a restaurant in Portland, Maine, says he's been buying the bare minimum and has also tacked on a a 25 per cent surcharge to all lobster dishes.

"It's the highest I've ever seen," said DiMillo of the surging prices.