Lobster prices higher due to March storms

Massachusetts

The storms that severely battered the Massachusetts coastline had pretty much the same impact on the waters off the coast of Maine, where most New England lobsters are caught.

Michael Fitzgerald, owner of Schermerhorn’s Fish Market in Holyoke, told 22News, “The boats couldn’t get out, they weren’t catching the lobsters so whatever they had stored what we were buying, so what it does, it pushes the price higher. you’ve got to remember the prices get higher there is no demands.”

Fitzgerald expects prices to drop considerably as the summer months approach. He also told 22News there’s a growing Asian market for these crustaceans.

“China is the big buyer for our lobster, we’re shipping a lot of lobsters to China and Vietnam… there’s many more. We keep shipping more lobsters out of the country,” said Fitzgerald.

How this competition for the lobster caught off the coast of Maine affects future prices remains to be seen.

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