At least there’s one good thing coming out of the recession: bargain-priced crustaceans.
Lobster prices have fallen to their lowest in 25 years, on average about $3 less a pound compared to last year. Chock it up to the basics of supply and demand: Maine lobster fisheries are resting on record catches while consumers are cutting back spending on luxury items.
But hurry, because this seafood sale might not last long. Reports Melissa Clark in the Times:
Act quickly, because, according to Trevor Corson, the author of “The Secret Life of Lobsters” (HarperCollins, 2004), this situation is probably not going to last much longer.
“The lobster fishermen are victims of their own success,” he said, explaining that because they have managed to make lobster fisheries so sustainable, they have recently had record catches.
Until now, the excess catch was funneled to Canadian processing plants, which sold them frozen to chain restaurants. But the bad economy hit the Canadian plants hard enough to shut down operations.
That means cheaper lobsters for you and me — at least temporarily.
“It’s gotten to the point where for the fishermen, it’s not worth their while to catch lobsters, so the supply will decrease,” Mr. Corson said.
So go ahead, celebrate losing your job with a lobster dinner for two.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.