Fallout from coronavirus makes lobsters so cheap that sellers face a fatal blow

[jpak]

https://www.pressherald.com/2020/03/06/virus-makes-lobsters-so-cheap-that-sellers-face-a-fatal-blow/

The coronavirus outbreak is turning one luxury treat reserved for special occasions into a meal that bargain hunters can afford.

U.S. lobster prices have plummeted to their lowest level in at least four years after the spread of the virus halted charter flights to Asia at a time when sales usually boom for Chinese New Year celebrations.

The fallout has left thousands of pounds of unsold lobster flooding North American markets and squeezing U.S. businesses that already were hurting from lost sales due to China’s tariffs from its trade war with Washington.

“This is like a fatal blow,” said Stephanie Nadeau, owner of The Lobster Co. in Arundel, which saw orders to Hong Kong shrivel from about 1,000 boxes a week to a total of 120 boxes – each carrying 33 pounds – since late January. “I’m about to lay off most of my employees.”

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[mr_lebowski]

1. Not to be insensitive, but .... OOOOOH ... wonder if the low prices have hit AZ?

Some grilled Maine lobster tail for dinner tonight sounds pretty freakin' tasty ...

[Hotler]

3. I'm with you, lobster sound really good. nt

[WhiteTara]

7. Too bad they don't consider us a market

and I hope that I see their troubles reflected in local prices. I'm sorry that they are struggling. It seems that everything trump touches does die.

[Boxerfan]

2. A fatal blow to a flawed industry

I think from the perspective of the Lobster it is a blessing & give them a chance to recover.

[Merlot]

4. Agreed.

[GoCubsGo]

5. Still a "luxury treat" in my neck of the woods.

I have seen great sales on shrimp, but rarely on lobster or crab. I guess the domestic market is chopped liver to them?

[Greybnk48]

6. They priced most of us here in the U.S. out of their market.

We don't even buy it on special occasions anymore it's so ridiculous.

[Tracer]

8. So true.

I don't live that far from Maine, but the prices for lobster are so high that I'll only splurge once a year.

In my grocery store, they sell lobster rolls in a hot dog bun for $8.99 -- and you can barely find the lobster.