Massive Canadian Buying of Lobster Keeps Prices Steady in Maine
When the China lobster tariffs of 25 per cent went into effect on July 6, many feared an immediate reaction in Maine leading to lower prices.
That has not happened.
During the first six months of this year, lobster exports to China from Maine were booming. Many feared that the sudden cutoff of these exports would crash the market.
During the January to July period, Maine shipped three-million pounds of live lobster to China in 2016, 5.6-million in 2017 and nearly 12-million in 2018. To ...