We hesitate to make predictions when it comes to Homarus Americanus. Predictions can more often than not come back to haunt us. But it is fairly apparent that Canadian Lobster is a growing value proposition. Prices are modestly rising throughout the distribution chain. And if we look at the big picture, this is surely a good thing for everyone over the ‘long haul ‘.
Over the past ten years we have experienced some exceedingly low prices on occasion. The Harvesters were fishing for returns that were hardly sustainable. Dealers and exporters were quoting prices that in the scheme of things were laughable. Our loyal clients had limited appetite because there was essentially no business opportunity available. Because of a par dollar, a worldwide recession, and incredible catches, Canadian lobster was in a significantly challenged position.
Today? Much has changed for the better. We are fortunate to have much reduced oil prices and therefore a weaker Canadian dollar. We see an American economy gradually rebound from the difficulties of the last decade. We see growth in appetite in Asia for Canadian (and American) lobster that is simply incredible. There is hardly a day that we do not receive a serious inquiry from China. Prices paid to the Harvesters this Spring are the highest in the last decade. They now have a new enthusiasm that this sector is not only sustainable, but increasingly attractive to the next generation.
We have just recently been MSC certified in lobster in this region. More on that topic later, but it is all part of a good news story hopefully going forward. Pricing increases have taken place because of the closure of many Canadian seasons and substantial appetite for lobster throughout the summer. However, our Canadian lobster pricing still remains only a third of the Australian rock lobster. We may still be one of those terrific undervalued specialty offerings. We have considerable work to do telling the story of Canadian lobster and branding our product for our international clients. Quality control will be central to our value proposition and further expansion. This Canadian Lobster Story is so much more encouraging than it was ten short years ago.
And please remember always:
Canadian Premium Quality Lobster
A Celebration Food for the Ages
Best Regards / Penny and Stewart
“We have considerable work to do telling the story of Canadian lobster and branding our product for our international clients”