Lobster harvesters are optimistic about the upcoming spring season, anticipating higher prices despite rising operational costs. Martin Mallet, executive director of the Maritime Fishermen’s Union, noted that a low supply of lobsters combined with increasing demand, especially after the easing of international trade barriers, could drive prices up. Currently, diesel prices have surged from around $1.40 per liter last year to between $2.30 and $2.40, significantly impacting harvesters’ expenses. To remain viable, fishermen are hoping for a shore price of at least $9 to $10 per pound, compared to previous years when prices were around $6 or $7. In some regions, harvesters have reported catches yielding prices as high as $12 per pound. Meanwhile, Canadian lobster exports were valued at approximately $215 million in early 2025, showing a decline from previous years but indicating recovery as tariffs on lobster exports to China have recently been lifted.
Why It Matters
The lobster fishing industry is critical to Canada’s economy, particularly in the Maritime provinces, where it has historically contributed significantly to local livelihoods and export revenues. In 2024, Canada exported over 80,000 metric tonnes of lobster valued at $2.9 billion, primarily to the U.S. and China, before tariffs were imposed in early 2025. The imposition and subsequent lifting of a 25% tariff by China reflect the complexities of international trade relationships and their direct impact on Canadian seafood exports. Additionally, environmental factors such as climate change are affecting lobster populations, necessitating a focus on sustainable practices and market diversification for the industry’s long-term viability.
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