The price of lobster from the Islands is still falling – Magdalen Islands Portal

Since 2020, lobstermen on the Islands have observed a repeated decline in their profitability. According to the Magdalen Islands Lobster Fishermen’s Office (OPHÎM), the weighted average price of lobster should be $6.91/lb for the 2024 season, or 10% cheaper than the last year.

In 2023, theOPHIM conducted a study which ruled on an ideal profitability threshold. It stands at $7.49/lb.

This threshold may not be reached this year, a first in three years.

Right now we are $0.58 below the breakeven point.

The Board estimates that if nothing is done, the weighted average price should remain at $6.91/lb, even in the event of a sudden rise in prices in the coming days.

The weighted average price, also called weighted average cost, takes into account the volume of lobster recovered at the docks.

As at the end of each season, this quantity is expected to decrease, which would slow down a possible increase in profitability for fishermen.

It’s discouraging for fishermenmentions Mr. Turbide. We’re a little disconcerted after all about this price.he laments.

Mr. Turbide calls on manufacturers to take action to reverse the trend. According to him, it is not too late to allow fishermen to ensure the profitability of their season.

There are three weeks left to turn things aroundsaid Rolland Turbide. Buyers are asked to make all necessary efforts to obtain the best possible prices on the markets.he added.

The general director of theOPHIMNadine Cyr, finds it deplorable that lobster from the Islands is not sold at the same price as in Prince Edward Island, for example.

She is sounding the alarm as fishing ends on July 6 in the archipelago.

Since the start of the season, we have seen and experienced this drop in prices for fishermen.

It’s a little difficult to explain why our lobster is always in decline, while everything is constantly increasing everywhere.mentions Ms. Cyr.

Ms. Cyr is also saddened by the state of the situation for new fishermen on the Islands.

According to her, the next generation will have difficulty surviving with profitability as low as observed in recent years.

We know that there have been many young people recently who have acquired a fishing business.mentions the director of theOPHIM. Then when we know that these young people pay from 1 to 1.5 million dollars for their fishing business, $7.49/lb, it takes them to reach the end of the seasonshe clarified.

THE ONE: The lobster fishing season will end on July 6 in the Îles-de-la-Madeleine. PHOTO: RADIO-CANADA / RENÉ LANDRY

PAR Kevin Duquette-Goulet