Fishers with the Maritime Fishermen’s Union (MFU) are heading to sea under pressure this spring, as rumours swirl of lobster buyers offering prices far below what they consider sustainable.
The MFU says the reported opening offers of $6 to $6.50 per pound echo rates from more than a decade ago, even though operating costs have risen significantly since the pandemic.
“Operating costs for a fishing enterprise today are not what they were before the pandemic,” said Martin Mallet, MFU Executive Director. “A reasonable minimum price for lobster today must take into account these increases, which have risen by 25 to 50 percent depending on the fishing enterprise.”
He pointed to bait prices as one example — frozen mackerel now costs around $1.95 per pound, nearly double the pre-pandemic price.
Some lobster buyers are blaming new tariffs in China for blocking access to a major export market, creating pressure on prices and inventory. But the union disputes that logic, saying their sources report very low inventories of both live and processed lobster.
“Current market conditions do not explain the derisory offer from buyers at the start of this season, which should allow a price of $8 per pound and more, especially before Mother’s Day,” said Mallet. “We invite these buyers to go back to the drawing board immediately and come back to our fishermen with a reasonable offer.”
The MFU is calling for improved transparency and fair negotiations, warning that the current price rumours could put many fishing operations at risk.
