PEI

Record lobster prices in Nova Scotia gives Island fishermen 'hope'

Some Island fishermen say they're confident record lobster prices in Nova Scotia right now will mean a favourable price at P.E.I. wharves this spring too.

Nova Scotia buyers say $8 dollars per pound highest they've ever paid in early May

Some fishermen in North Rustico are hopeful record lobster prices in Nova Scotia now will mean a favourable price for them. (Steve Bruce/CBC)

Some Island fishermen say they're confident record lobster prices in Nova Scotia right now will mean a favourable price at P.E.I. wharfs this spring too. 

Buyers in Nova Scotia told CBC this week they're paying $8 per pound right now — a price higher than they've ever seen in early May.

They say the relatively low Canadian dollar and the growing demand for lobster in Asia are likely the cause. 

"It gives you hope, yes," said North Rustico fisherman Dalis Peters. "You know the demand is there, and when the demand is there, the price should be there [on P.E.I.]"

North Rustico fisherman Dalis Peters says he'll be happy with $7/pound for his catch. (Steve Bruce/CBC)

Fishermen hoping for $7/pound

Island fishermen have been hauling in traps since Monday. But some say they won't know how much buyers are paying on P.E.I. until next week, when they get their first financial statements of the season. 

It's a whole lot better outlook than a few years ago.- Dalis Peters, North Rustico Fisherman

Norman Peters, another North Rustico fisherman, said he's not expecting to get $8 per pound for his lobster. He said because most P.E.I. lobster is processed, it generally sells for a slightly lower price than in Nova Scotia. 

Peters said he'll be more than happy if buyers pay $7/pound for his catch. 

According to some buyers in Nova Scotia, market lobsters there are selling for $8/pound - the highest price ever in early May. (CBC)

"That would be great … for everyone," said Peters. "When we do good, we spend money. We trade trucks. The people in the auto business know when it's a good season."

"It's a whole lot better outlook than a few years ago," added Dalis Peters. "Then they were talking 3 dollars a pound, and you hated to get out of bed in the morning because you knew you weren't going to make any money."

P.E.I'.s spring lobster season runs until the end of June.