Maine lobstermen lose out on inflation as 2022 yields drop nearly 50%

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Fishermen for Maine lobster, one of the most lucrative seafood species in the US, have had a smaller haul in a year in which the industry has grappled with rising fuel and bait prices, criticisms from major retailers and the looming possibility of new fishing restrictions.

Maine lobster has exploded in value in recent years due to growing international demand from countries like China. The industry is bringing about 98 million pounds of lobster to ports worth about $389 million by 2022, Maine regulators said Friday. That’s more than 11% less than last year, when they harvested more than 110 million pounds of lobster worth more than $740 million.

The value of lobsters also fell to slightly below $4 per pound at the docks, the lowest since 2017, a year after setting a record of more than $6.70 in 2021.

The industry has experienced growth in recent years, as fishermen have caught more than 96 million pounds of lobster annually for 13 years in a row after never reaching that mark. But it also fights threats like proposed rules to protect the rare North Atlantic right whale, which is vulnerable to gear entanglement.

Last year was a “really steady season,” for the most part, but high trading prices and a declining price per pound for lobsters were challenges, said John Tripp, a fisherman from St. George.

“It’s increasingly expensive to do what we’re doing,” Tripp said.

Low prices for fishermen last year do not necessarily translate to lower prices for consumers, as lobsters remain a premium seafood product. Fishermen are typically paid $4 to $5 per pound for their catch, while retailers often charge consumers more than double that.

Potential threats to the industry include warming in the Gulf of Maine, which is an important fishing spot in New England. The gulf experienced its second hottest year on record last year, scientists said.

“Maine’s lobstermen faced great uncertainty about their future last year due to pending federal whaling regulations, compounded by the high cost of bait and fuel,” said Maine Gov. Janet Mills, a Democrat. “Yet they still bring ashore nearly 100 million pounds of quality Maine lobster, demonstrating the industry’s resilience in the face of a difficult and dynamic economic environment.”

The lobster fishing business has also lost some customers due to sustainability organizations suspending their industry certifications due to concerns about threats to whales. Retailers including Whole Foods said they would halted the sale of Maine lobster after the groups, the Maine Stewardship Council and Seafood Watch, pulled the certifications.

Some scientists and conservationists are calling on government regulators to treat the threat to whales more urgently. Whales are also prone to collisions with large ships.

“With fewer than 350 individuals left, and their numbers in decline, the North Atlantic right whale is at risk of extinction,” wrote a group of conservationists including Peter Corkeron, a former scientist at the National Oceanic and Atmospheric Administration, in the February issue of the journal Science.

The majority of U.S. lobsters arrive at Maine ports, although some arrive off the coast of Massachusetts, New Hampshire and further south. Canadian fishermen also catch millions of pounds of the same species from the country’s eastern provinces.

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