PEIFA hopeful of strong lobster demand
Lobster Council fearing impact of rising Canadian dollar
The small number of participants in comparison to the spring lobster fishery bodes well for Prince Edward Island’s fall lobster fishermen suggests Prince Edward Island Fishermen’s Association president Bobby Jenkins.
P.E.I.’s fall lobster fishers set their gear in the Northumberland Strait between Victoria and North Cape on Tuesday. They share the Lobster Fishing Area 25 zone with New Brunswick fishermen and a few Nova Scotia boats.
The first full catches of the season will be landed on today although many of the fishermen were expected to fish at least some of their traps on setting day.
“We’re wishing our fishers in Area 25 a good season. Hopefully they get a good price,” Jenkins commented.
He admitted he’s heard nothing about inventories in six weeks but feels that with less lobsters coming in at this time of year than in the spring, demand should be strong. Jenkins’ optimism is tempered, however, by a cautious outlook being presented by the Lobster Council of Canada concerning the recent strengthening of the Canadian dollar in relation to the American currency.
Relative to the US dollar, the council noted in a news release Tuesday, the Canadian dollar has strengthened, putting pressure on Canadian lobster processors and live shippers to increase selling prices. Exporters of live and processed lobster maintain inventory through periods of minimal fishing activity, the council noted, and, therefore, are subject to changes in the value of their inventory based on currency fluctuations. Lobster products are generally priced in US dollars.
Jerry Amirault, president of the Nova Scotia-New Brunswick Lobster Processors Association, said via the Lobster Council’s news release that the strengthening dollar is hurting the lobster industry, the communities in which the plants operate and the whole Atlantic region.
“While a strong dollar helps Canadians buy wine from California or travel to New York City for a holiday, it is the last thing we want as exporters of Canadian seafood products,” expressed the council’s executive director, Geoff Irvine.
Jenkins expressed hope the Island’s lobster marketing board, which is funded through a one cent a pound levy, paid by lobster fishermen on the product they sell and by the first point of sale buyers, will help keep lobster prices high. He suggested there could be opportunities for joint promotions going forward between the marketing board and the FA’s Master Lobster Brand.
The provincial president said his association is watching to see what the impact of a twomillimetre increase in legal carapace length will have on landings. He said the association lobbied since last year to slow the increase to just 1 mm, “but the PEIFA wasn’t listened to on that one.”
This year’s increase follows a 1 mm increase last fall.