Nova Scotia lobster harvesters, led by the Maritime Fishermen's Union, are pushing for an average price of $9‑$10 per pound in 2024.
The request comes as operating expenses have surged, driven largely by higher diesel prices for boat engines and increased costs for bait and gear. The CBC report said fuel prices have climbed sharply since the start of the year, adding pressure to already tight budgets.[1] Yahoo coverage said harvesters are also facing higher costs for ice, maintenance and crew wages.[2] Seasonal variability compounds the problem, as a shortfall in early catches forces boats to stay at sea longer, further increasing fuel use.[2] The union's latest financial audit shows total yearly expenses per vessel have risen from about $150,000 to over $200,000.[2] The union said margins had been cut in half compared with three years ago, threatening the viability of many family‑run businesses. MSN analysis said the combined effect of fuel and ancillary expenses could push total operating costs up by as much as 20 percent.[3]
The CBC breakdown shows fuel represents about 40% of total operating expenses, with bait, ice and gear comprising another 30% of costs.[1]
Martin Mallet, executive director of the Maritime Fishermen's Union, said, “We hope for an average price of $9 to $10 a pound for lobster this year.”[1] He said that without a price adjustment, many crews could be forced to curtail their season.
Fuel is the single biggest cost item for offshore trawlers, and price spikes this year have added roughly $2 million to the collective operating budget—a burden many small crews cannot absorb.[3]
If the target price is secured, harvesters said it would restore profitability and keep the fleet at full strength for the remainder of the season.[1] Harvesters said rising fuel costs are squeezing profit margins.[3] They said higher prices could help keep the industry viable amid soaring expenses.[3]
The provincial Department of Fisheries and Aquaculture is expected to review the union’s proposal during its mid‑year pricing forum, a process described by the CBC as “critical for maintaining the sector’s sustainability.”[1]
The union held a meeting in Halifax last week where members reviewed the latest expense reports and voted unanimously to pursue the $9‑$10 price band.[2] Attendees described the current financial strain as “unsustainable” and urged the government to act quickly.
““We hope for an average price of $9 to $10 a pound for lobster this year.””
What this means – Securing a higher lobster price could offset soaring fuel and operating costs, preserving jobs and the province’s key seafood sector, but it may also raise consumer prices and require regulatory approval.
