Low Lobster Prices Hurting Local Fishermen

GLOUCESTER (CBS) – Lobster prices are the lowest they’ve been in years and while that may be good for the consumer, it’s hurting local fishermen and seafood distributors.

Monti Rome, the owner of Intershell Seafood in Gloucester, says it’s all about demand. Right now the demand is low, meaning lower lobster prices.

WBZ NewsRadio 1030’s Kim Tunnicliffe reports

“Since the economy has not gotten any better, customers perceive lobsters to be a high price item,” says Rome. “Unless they’re very scarce, there is not the demand that there used to be.”

Lower prices are also hurting fishermen. Right now they are getting about $3 a pound for lobster, but it takes about $4 a pound to break even.

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