Lobster Industry Sees Largest Price Drop in Years

PORTLAND, Maine – Lobster prices are dipping somewhat just before Memorial Day weekend – the unofficial start of the industry’s critical summer season.

The price of lobster and seafood at large has shot up in recent years, and the price to lobster fishermen at the docks increased by about 60% last year. But lobster prices appear to be leveling off, and some retailers are selling the prized crustaceans for a couple dollars less than last year.

Members of the industry said the price to fishermen is also falling at a time when they are struggling with high bait and fuel prices and costly gear conversations intended to try to protect rare whales.

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