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Low lobster demand puts fishermen in red (at 50% price of a halibut)
FT ^ | 01/01/01 | Bernard Simon

Posted on 01/03/2010 6:59:01 PM PST by TigerLikesRooster

Low lobster demand puts fishermen in red

By Bernard Simon in Toronto

Published: January 1 2010 21:02 | Last updated: January 1 2010 21:02

At a time when prices for commodities such as tea, cocoa and sugar are soaring to their highest levels in years, lobster, a delicacy associated with luxury living, is selling at bargain prices.

Prices have sunk so far over the past two years that some mass-market restaurant chains have added lobster to their menus. Tennessee-based Ruby Tuesday, with about 850 outlets in the US, offers lobster tails, as well as lobster carbonara and lobster macaroni and cheese.

Hannaford Supermarkets, a New England chain in the heart of the US lobster industry, has the crustacean on special this week at $4.99 a pound, half the price of halibut.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: economy; lobster; sale
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1 posted on 01/03/2010 6:59:03 PM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 01/03/2010 6:59:55 PM PST by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

Guess I know what I’m making for dinner.......


3 posted on 01/03/2010 7:01:38 PM PST by phoenix07
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To: TigerLikesRooster

That explains the $5/lb. drop from last year at this time.


4 posted on 01/03/2010 7:03:01 PM PST by Born Conservative ("I'm a fan of disruptors" - Nancy Pelosi)
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To: TigerLikesRooster

East Coast Lobster has been on sale in the CA desert for $5/lb, for the last 3 weeks.

Last year it ran as low as $1/lb.

West Coast lobster is hard to find at reasonable taste or size.

Anybody know the actual mechanics of the market driving these low prices, or has Guido been busy in New Jersey providing more feed for East Coast Lobsters the last 6 months?


5 posted on 01/03/2010 7:03:05 PM PST by Cvengr (Adversity in life and death is inevitable. Thru faith in Christ, stress is optional.)
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To: TigerLikesRooster

Looks like http://Lobster.com is doing well.


6 posted on 01/03/2010 7:03:37 PM PST by bvw
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To: TigerLikesRooster
WOW - I'm going to stock up now by mail order, and keep in the freezer - I love to make Fajitas with Lobster, beef and chicken.
7 posted on 01/03/2010 7:03:52 PM PST by J Edgar
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To: TigerLikesRooster

In Maine this summer, I got a dozen 1lb~1 1/4lb lobsters and 5 lbs of clams for $60

Dinner was Yummy!


8 posted on 01/03/2010 7:06:19 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: bvw

They probably market to the French!


9 posted on 01/03/2010 7:06:47 PM PST by J Edgar
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To: TigerLikesRooster
I love shrimp and crave prawns, lobster though... I could do without.
10 posted on 01/03/2010 7:07:17 PM PST by TexasFreeper2009 (Obama lied, the economy died)
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To: TigerLikesRooster

Looks like the bottom dropped out for the bottom-feeders. Congress, are you paying attention?


11 posted on 01/03/2010 7:07:37 PM PST by Ezekiel (The Obama-nation began with the Inauguration of Desolation.)
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To: TigerLikesRooster
In rural Mina, Nevada...

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12 posted on 01/03/2010 7:10:16 PM PST by Inyo-Mono (Had God not driven man from the Garden of Eden the Sierra Club surely would have.)
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To: mylife

LOL
I was just about to PING you to this thread!


13 posted on 01/03/2010 7:10:58 PM PST by MS.BEHAVIN (Women who behave rarely make history)
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To: TigerLikesRooster

While the wholesale price may be declining, I don’t expect to see price reductions for Lobster on the menu at my favorite restaurants...


14 posted on 01/03/2010 7:11:43 PM PST by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: TigerLikesRooster

LOBSTER TAILS ARE NOT FROM LOBSTERS

.... they are a type of crayfish, marketed as “lobster tail” ... but definitely not a true lobster.


15 posted on 01/03/2010 7:11:49 PM PST by canuck_conservative
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To: MS.BEHAVIN

Yummy!


16 posted on 01/03/2010 7:12:35 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: MS.BEHAVIN

One thing I noticed at Hannafords was that catfish is expensive.

They give it away here.


17 posted on 01/03/2010 7:13:58 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: TigerLikesRooster

Interesting. Halibut runs about $20.00 a pound in LA.


18 posted on 01/03/2010 7:14:34 PM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: mylife

For some reason, catfish has ALWAYS been expensive up here.
Maybe it doesn’t sell as well..?


19 posted on 01/03/2010 7:17:24 PM PST by MS.BEHAVIN (Women who behave rarely make history)
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To: TigerLikesRooster
I was down in Grenada and a guy went diving and brought back 22 lobsters for 10.00 and a cook to cook them for me. I loved that place. Muuuummmmmmmm fresh banana daiquiri's !!!
20 posted on 01/03/2010 7:17:29 PM PST by therut
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