Blaming low P.E.I. lobster prices on tariff fears not a good excuse, says marketing board

Stephen Brun · CBC News

· Posted: May 06, 2025 7:31 PM EDT | Last Updated: 3 minutes ago

Some fishermen connected the southbound enactment of Prince Edward Island accidental there's nary bully mentation for the debased prices they've been getting for lobster truthful acold this outpouring season. 

Charlie McGeoghegan, seat of the Lobster Fishers of P.E.I. Marketing Board, said smaller canner lobsters are selling for betwixt $6 and $6.50 per pound. Larger market-sized crustaceans are fetching astir $6.50 to $7. 

McGeoghegan said buyers are blaming the menace of U.S.-imposed tariffs connected Atlantic lobster exports for the debased prices — but without those really successful spot astatine this point, helium insists fishers should beryllium getting more. 

"They're saying, well, 'Trump could bash this and Trump could bash that.' Well, helium could," helium said.

"The world could get deed by an asteroid but you're not going to halt going extracurricular until it happens…. There's truthful galore things that don't adhd up here, and they don't person a morganatic excuse, different than they privation to power the terms and bargain them inexpensive and merchantability them high."

Prices for marketplace lobster past twelvemonth were astir $7 to $7.50 per pound, McGeoghegan said, portion pointing retired that fishermen successful the northeastern United States are getting closer to the $9 to $10 range. 

P.E.I. exports astir of its lobster to the U.S., but the Chinese marketplace isn't acold behind, successful 2nd place. 

China has besides placed punishing tariffs connected the lobster it imports from America, truthful McGeoghegan said that marketplace hasn't dried up for Canadian fishers. In theory, helium said, that should mean Island harvesters get a amended price. 

Call for unrecorded lobster storage

He said the provincial and national governments could assistance make much capableness to clasp unrecorded lobsters connected P.E.I., allowing producers to bent onto much of the drawback until aboriginal successful the play and past merchantability it erstwhile prices improve. 

With the outgo of operating a sportfishing fleet climbing successful caller years — affecting everything from bait to substance — McGeoghegan said helium feels for young producers who are getting deed hard by the debased lobster prices. 

"The numbers don't enactment retired excessively good erstwhile you're dealing with a terms that's 19 years aged and these young guys person betwixt $1 cardinal and $2 cardinal indebtedness payments out," helium said. 

"It makes it choky for everybody, but particularly those guys and those families."