Lobster Prices Plummet As Maine Fishermen Catch Way Too Many

Yellow Lobster

By CLARKE CANFIELD, Associated Press Writer

PORTLAND, Maine (AP) — Officials say Maine lobstermen had a record harvest in 2009, but the value of the catch continued to plunge amid the sour global economy.

The Department of Marine Resources announced Monday that lobstermen caught 75.6 million pounds last year, up 8 per cent from 2008. But the value of the catch fell $23 million, to $221.7 million.

That’s $96 million less than its peak value in 2005.

Marine Resources Commissioner George Lapointe says the catch numbers show the supply is in good shape and that lobstermen are fishing hard to make up for the lower prices they’re receiving.

He says the low value is a reflection of the poor economy and people cutting luxury items out of their budgets.

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