Lobster Glut Leaves Industry Fishing For Answers

A glut of lobsters has driven down the price of the prized crustacean in the Maritimes, leaving fishermen scrambling for ways to prop up their earnings.

The lobster industry — worth about $580 million in the region — has been battered in recent years, with prices dropping by a third within the last three years.

Prices are hovering around $3 per pound, down from $4.50 per pound in 2009, according to the Lobster Council of Canada.

"Everybody is talking about going back to the drawing board in January when things start to slow down," said Marc Surette, executive director of the Nova Scotia Fish Packers Association.

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