Island lobstermen want to explore a lobster commodities board (CBC)

P.E.I. fishermen wrapped up their annual meeting Saturday in Charlottetown. One item up for discussion was the idea of starting a lobster commodities board to stabilize lobster prices.

Ian MacPherson, the executive director of the P.E.I. Fishermen's Association, said a lobster commodities board is just one idea, but that fishermen need to think of new models.

"The intent is that the fisherman would know what he is getting for his catch," he said.

"That is one of the biggest uncertainties we deal with now is that last week's catch - you don't find out for a week or so later what you are going to get."

MacPherson said that the unpredictable nature of lobster prices is a stressful challenge for fishermen as businesspeople, and that lobster fishermen want to discuss the advantages and disadvantages of a lobster commodities board.

To ensure an informed discussion, the association has invited Keith Flett, CEO of Seafood Contract Brokers in Maine, a business that focuses on market reform in the fisheries.

Flett discussed his ongoing efforts to start up a commodities board in that state.

"We thought it would be interesting to have him come up and talk to our group to see how we would go about that and discuss the advantages and disadvantages," MacPherson said.

"We need to look at different approaches to help our industry recover … The current model doesn't seem to be working as well as it could."