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    Virus Makes Lobsters So Cheap That Sellers Face a Fatal Blow
    By Jen Skerritt
    March 6, 2020, 3:56 AM GMT+7


    Lobster Flights


    Canada typically sent about nine charter flights a week, with a total of 1.5 million pounds of the shellfish, from Nova Scotia to South Korea and mainland China for everything from restaurants and markets to business meetings and weddings.

    But as restrictions were placed on the borders of Asian nations including China to contain the spread of the virus, Canadian product began flooding the U.S. market. That pushed prices lower, said Liz Cuozzo, seafood market reporter at research company Urner Barry, which has been tracking food prices since 1858.

    Prices for New England halves -- a whole lobster weighing 1.5 pounds -- have tumbled 17% since Jan. 20 and are currently at $8.10, the lowest for the period since at least 2016, she said. They typically rise this time of year as supplies are tighter before the main fishing season begins. Last year, they cost $10.70, with the 10-year-average at $9.85.

    Demand for live Canadian lobster has dwindled to 5% of normal volumes since the Chinese New Year when restaurants started canceling reservations and people stayed home, said Stewart Lamont, managing director of Tangier Lobster Company in Nova Scotia.

    Inventory Swells
    limitedvirus spreads

  • #2
    O'hhh, our lobstermen are moaning over here for sure. Yet to see a major dive in lobby prices though, but that's orrstralia innit. Help out the needy millionaires.

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