PEI

P.E.I. fall lobster season sees record prices

The fall lobster season, off the southern and western shores of P.E.I., closes this weekend, and it’s been a good one.

‘It's nice to see after all the work that fishers have done’

While the catch was average, the price made up for it. (Brian McInnis)

The fall lobster season, off the southern and western shores of P.E.I., closes this weekend, and it's been a good one.

Catches were about average, said Charlie McGeoghegan, chair of Lobster P.E.I.

"The big change would be the price per pound. The last five weeks or so, it's been pretty steady at about $8.60 and $9.60, canners and markets respectively," said McGeoghegan.

Those are record highs, he said.

"It's nice to see after all the work that fishers have done," said McGeoghegan.

"The marketing board and all the marketing and promotion we've done both domestically and around the world the last few years, it's finally starting to pay off."

The level of demand for the product is very high, he said. All the lobster from the spring season were sold before the fall season started, and he does not expect the lobster from the fall season to be long in storage either.

The costs of being in the fishing industry — from boats to fuel to traps — have also been rising in recent years, said McGeoghegan, and the marketing board feels this is where the price of lobster needs to be for the industry to be viable.

With files from Angela Walker

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