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Posted on 04/02/2009 4:20:18 PM PDT by nickcarraway
Fearing a crash of prices, lobster fishermen and processors in eastern Canada are looking for bridge financing from the federal government similar to that being offered other industries around the world.
Processors and fishermen made presentations on the troubles in the industry to the federal fisheries standing committee in Charlottetown Tuesday. With lobster season opening in about a month, processors still have large inventories in their warehouses. The industry fears the opening of the spring season will take the bottom out of prices.
"Lobsters are going to be worth nothing," said fisherman Wayne Campbell.
"Hate to say that. I preached that we're not supposed to say that. But anyway we'll see, won't we?"
Processors won't say how much frozen lobster they have in inventory, but it was about $30 million in total in January. It's the most ever going into the opening of a spring fishery, said Mark Bonnell of Mariner Seafoods in Montague, P.E.I. Processors have lots of lobster in storage, and more will be coming in soon.Processors have lots of lobster in storage, and more will be coming in soon. (CBC)
Bankers are hesitant to extend loans to processors to buy more lobster.
"Government's got to move pretty fast here because in four weeks time we're gonna have lobsters coming ashore," said Bonnell.
"Not a lot of packers have the financing in place because of the way the banking industry has been."
MP Lawrence MacAulay, who represents the Cardigan area, helped bring the committee to eastern Canada and admitted while the trip is useful to bring new information to MPs, any recommendations from it won't be made in time to help this spring.
Still, he insists some aid must come.
"We're talking about bridge financing for other major companies across the country and across the world. But we happen to have an industry here too and we need support," said MacAulay.
There are already signs processors are expecting a troubled season. Ocean Choice, P.E.I.'s largest processor, has announced one of its plants in eastern P.E.I. will not be opening this year.
i will personally bailout the lobstermen....market price for 1 1/4 chicken lobsters is what maybe 3.99?.....I’ll go 4.50 - its still cheaper than decent beef....deliver it to Rochester NY - I’ll be the one in the hot tub full of butter
I like my lobsters 2 1/2 to 3. I’ll help bail them out too.
If they take govt money then the PETA types will demand a more humane way of cooking the poor little crustaceans.
Funny we have heard nothing like this in the New England States. Maine lobsters are the best. The article says this is about Canada.
Let them eat Lobster!
I'm going to go out on a limb here, but sometimes in a capitalist society, people lower prices to get rid of excess inventory. The beauty of that solution is they might be able to bring some new people to the table (no pun intended) - people who have forgone the delights of eating lobster because of price. Some will even stay with the delicacy after the price starts going back up...
Who needs ‘em? Lobsters are just sea cockroaches.
Oh, now see? There you go, making sense again!
I guess the lobstermen are in the hot water this time, instead of the lobsters.
So? Let the lobsters enjoy the spring and not set out the traps. When the surplus is run out, restart catching them. No taxpayer money will be necessary.
Well boys, it’s called supply and demand...Where is there more value??? You making five bucks a pound for the lobster on my plate, or nothing per pound sitting in your freezer???
But then you want me to pay five bucks a pound while leaving the lobster in your freezer...
If the guys that gather lobsters could just freeze-dry them and sen them to me directly, I would buy lobster enough to eat every day.
But they can’t. I don’t know why. But if you google lobster prices, they are still around $7 or more a tail.
I’d buy 50 lbs right now, just not at the middlemen prices.
Those Maine lobster people just don't get supply and demand. I don't order anymore.
I used to love to drive to Maine on a week-end and stop at one of those lobster pots on the roadside. I understand that even those places are keeping the prices high.
Yes, but with my poker skills, I won’t be taking much money back...
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Problem is, lobster season is relatively short and only comes around once a year - the exact time of year depends on the area. That’s how it works in Canada, anyway. If they don’t go lobstering this season, they’ll have to wait a whole year before they can go out again. And then the boys won’t get their “stamps” so they can drink bear and collect pogey (unemployment insurance) for the rest of the year.
Web Editor: Sarah Delage 6 months ago
Lobster is selling for just $2.75 a pound in Stonington (ME). Lobstermen are already dealing with high fuel and bait prices. Some lobstermen are setting traps closer to shore and letting them sit longer to save money on fuel and bait.
The low prices are the result of low demand for lobster. Wholesaler Hugh Reynolds said demand is falling sharply from corporate chains who usually buy their lobster six to eight months in advance "There's less of a demand primarily in the frozen sector, which would come from places like Outback Steakhouse, Red Lobster, and corporate dining chains have slacked back on their product," Reynolds said.
"We don't know whether the customers in the restaurants aren't eating them or they are financially strapped due to the credit crunch to buy a lot of inventory ahead."
TODAY: April 2009 Task force hears concerns from lobstermen
by Sandra Dinsmore
Excerpt
Robert Beal, of the Beals-Jonesport co-op, warned, "If you cut traps, don't cut them in half; [fishermen] will go bankrupt." He went on, "I can't see trying to solve world economic problems on the backs of lobster fishermen." And Carter noted if you fish fewer traps, you haul them more often.
Another problem, that lobstermen fish in summer when product quality is at its worst, brought much discussion. The length of its coastline exacerbates Maine's problem because as one moves east the water grows colder. Stonington fisherman Bob Williams, speaking from the floor, explained, "We get the heft of [shedders] in August," but "by the time Cutler get theirs in November, the Canadians are open." Williams was saying that by November, Cutler fishermen, then selling shedders, have to compete with hardshell southwest Nova Scotia fishermen, who don't fish during shedder season.
Dana Rice, of the Lobster Institute, talked about considering joint-maketing with Canada and whether to certify the Maine lobster fishery as a sustainable fishery.
Carter, who refers to himself as an independent lobster catcher says there is "a strong lack of trust between fisherman seller and dealer buyer"."We need to be more ambidextrous. The federal government has taken that ability away from us." {I noted fresh lobster is around 7.99 a lb at the local fish market in town (harborside) which buys fresh seafood each day. The pickup trucks, backs filled with coolers, have been sitting in the closed ice cream sand parking lots selling Maine "baby" shrimp, fresh fish, scallops etc directly to the customers. Thanksgiving had lobsterman running slogans saying Eat Lobster Save a Turkey! That was the lobsterman's own creative way to stimulate their own economy, they said. The New Soft shells I still favor (less weight per lb cost too) as can get to the meat faster!
Lobstering is considered one of ehe most dangerous job in America.
Summers coming and one of the best Lobster shacks in Maine is in Wiscasset--Red's Eats on RT. 1 just before the bridge. People stand in lines for the biggest lobster rolls, fried fluffy batter clams etc and like tradition return every year--celebs make a stop, Justice Roberts ate a season ago..has been in most cuisine magazines etc..small place, BIG reputation.
Red's boasts that each lobster roll contains all the meat from a one-pound lobster, and then some. Rolls are served with melted butter (or mayo) on the side for you to drizzle on as desired."
Canada PING?
Had my first lobster roll President’s Day weekend last year! It was in NH, but this year’s roll will come from Maine when we get up there in the summer!
That'd be a Caribbean "warm water" lobster....they're ok, but priced at a fraction of such cold water tails as Australian or New Zealand.
I've been out of the business for seven years now, but cold water lobster tail importing was our flagship item. They were a commodity, and prices could vary from a low of $15.00 per pound (to the wholesaler) to well over $30.00.
Virtual fortunes would be made and lost by buying at the wrong time.
Great one
of course, they cost $30 each. so worth it.
However, I do have a second favorite place, about the same amount of lobster (real close-chunks) but they bake their own hot dog style roll fresh each day--so the bread is fresh split at the top!! Round Pond, Maine.(New Harbor, Damariscotta area Mid coast) Can sit on the docks and bring your own wine/picnic besides. Lobster co-op there as well. A salt water aquarium for the kids to reach in and touch the crustaceans etc. Can't beat the views. Forgot the actual name but Round Pond (ocean) is a small harbor, one general store and a restaurant, co-op and the lobster shack...off the beaten path.
The meat is FRESH..not frozen.
Bring money, but it's not obscene. Very casual, too.
I saved the address.
The tails were a great product but not as good as steaming live ones. The claws were nothing to write home about. Plus, like you, I like the larger ones for the yield and just for the fun of it.
I am drooling on my keyboard. Lobster and fried clams...the food of gods.
I love the tomalley and roe.
The lobster shack down the street from me just opened up, i guess it’s about time for me to set out my pots. YUM!
OK, Connecticut lobster isn’t quite as good as Maine, but the difference is very slight, plus, i can get then free, for some work. They go great with the clams I dig, too.
Absolutely the best part of a lobster! Everyone seems to gross out about it, though. More for me!
Ping! Wonder where I could find good lobster prices in the DC area?
They've been overpriced for two decades. It's our turn now to benefit. We must be "fair", right?.
Two broiled lobster tails with drawn butter, a double-baked potato, homemade cole slaw, a jug of wine, a loaf of bread, and thou beside me singing in the wilderness -- oh lobsters, were paradise enow.
Leni
Who needs that? Lobster rolls, people—that’s where it’s at. And until they put the warning out on tomalley, I liked using them as part of sauces more than eating it by itself. But then again, there are some old-time downeasters who still eat their “bugs” using vinegar only.
I guess I forgot to mention the soft glow of candles on the table, LOL.
Leni
I grew up in a plains state....we hardly knew what fish was. Good old German cooking, pork, beef, ham, poultry.....huge bowls of potatoes, lots of fresh-baked bread and rolls.....and since my grandpa was a baker from the old country we always had luscious deserts and tortes from his bakery.
I never had a lobster till I was almost 30....and, of course, I was hooked. But we had broiled lobster tail in restaurants, never at home. Tasted better when we went out to eat.
Fish was something "those Catholics" ate on Fridays, LOL.
Leni
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We had a lobster bailout in the U.S., but the Congress put in one of those claw-back provisions.