PORTLAND, Maine (AP) — The price of Maine lobster, which accounts for 80 percent of the U.S. catch, is tanking.
The primary factor, a drop-off in demand by penny-pinching diners, has been in place since summer. But a secondary problem recently surfaced: the global banking crisis left Canadian processors short on credit, trapping Maine lobstermen and dealers with too much supply. story continues..
My brother in law and nephew are full time lobsterman. Both, have all but hauled out their boats. Between the price of fuel, and the ridiculously low price per pound they get when SELLING it to the resellers. It just isn't worth it for them to go out.
At least my brother in lay has another business for income. I am not sure how my nephew is doing.
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