It’s hard to be considered fancy when you’re cheaper than a McDonald’s value meal. That’s the image crisis the lobster industry is facing as low prices mean lobster is flooding the market and is easy to get, according to an article on MaineBiz.biz.
Lobster landings are up, way up, from historic figures. Maine lobstermen caught 123.3 million pounds of lobster during the 2012 season, which represents a 15% increase from 2011 and an 88% increase from landings two decades ago, according to Maine Department of Marine Resources figures. The glut in the market has driven prices down to the lowest lobstermen have seen in 18 years.