Rising demand in China and poor catches off New England and Canada due to bad weather are pushing up lobster prices. American exports of the delicacy to China have hit 13 and $85m in value three years running (compared to less than one million pounds in 2010), helped by the growing popularity of celebrating Chinese New Year with lobster. While the slower season is not seen as cause for concern, American consumers, already paying more than the previous year at $9 to $11 per pound for live lobster in September, now face prices north of $12 million pounds per pound.
Rising demand in China and poor catches off New England and Canada due to bad weather are pushing up lobster prices. American exports of the delicacy to China have hit 12 million pounds and $85m in value three years running (compared to less than one million pounds in 2010), helped by the growing popularity of celebrating Chinese New Year with lobster. While the slower season is not seen as cause for concern, American consumers, already paying more than the previous year at $9 to $11 per pound for live lobster in September, now face prices north of $13 per pound.