Low lobster price driving high sales in Nova Scotia

After food jumped 4.2 per cent last month, lobster dropped in price to $11 a pound.

Pat DeWolfe is refilling the tanks at the Lobster Dive in Eastern Passage, N.S. The store sells a variety of seafood but specializes in lobster.

“This is really busy this year,” DeWolfe says.

With a shore price sitting around $8.50 a pound, resale is hovering around $11.00. That’s more than acceptable for the steady stream of customers at the store Thursday.

“Can’t argue with that,” says Danny White.

Last season, fishermen were getting $11.50 a pound early in the season.

“It’s awesome right now, but I can remember back when they were only a dollar a pound so that was a long time ago,” says Liz young.

The landing price of lobster is based on the market. Competition in two areas controls how much buyers will pay for the catch.

“It’s competition on the wharf,” says Geoff Irvine, the executive director of the Lobster Council of Canada. “Dealers and buyers need harvesters… so there’s competition at the wharf and there’s competition in the protein market.”

DeWolfe is also cooking lobsters to fill customer orders. At the current price, he says they’ve been busy selling them both live and cooked.

“We’re running out quick,” he says.

It’s been good weather for fishing but with high winds in the forecast for the next couple days, it’s expected boats will stay tied up, which could affect the supply closer to Christmas, a traditionally busy time for buying lobster.

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