Maine Lobster Prices Low

Lower lobster prices may seem like a good idea, and for consumers it may be, but for the Maine lobster industry it’s not. They want higher prices for their product---which is at a 30 year low.

The Maine Lobster Advisory Council, over the next three years, will invest $3 million in a new marketing program in hopes that an increase in demand will lead to higher prices. Brand development and product development will be the focus of their campaign. A potential model for Maine’s lobster would the ‘Got Milk’ campaign which increased California’s milk sales when it started in 1993.

The idea of the marketing push is to include developing and funding studies on the health and nutrition of lobster. Not everyone is on board with the advisory board though.

Some members of the lobster community think it’s a bad idea because their worried the cost of the campaign will be passed on to the dealers who can’t afford any more costs. With the rising cost of bait and diesel fuel, the dealers can’t afford any more additional costs.

The recent troubles are due to record high catches and a poor economy. In Maine at local lobster shacks the low price of lobster can be seen, but in restaurants, not so much. Restaurants set their price for the services, so there may be some savings, but not as much if you buy and cook them yourself.