PORTLAND, Maine — Lobster prices in North America recently reached their highest point in more than 10 years and could become the typical bottom line as demand for processed lobster meat grows.
The wholesale price of a 1¼-pound hard-shelled lobster at the end of August reached $8.50, the highest price for that month since 2005, according to Urner Barry commodities publishing service.
Retail prices have remained high into September, with consumers typically paying $9 to $11 per pound for a live lobster — a few dollars more than a year ago at this time. The high prices are a product of several factors, including the ebb and flow of lobstermen’s catch and the demand from Asian countries that are developing a taste for the New England treat.
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