Why lobster prices are set to soar yet again
If demand from hungry consumers is anything to go by, the cost of lobster — already high by some measures — is likely to climb even higher. The crustaceans are enjoying a bit of a revival as lobster rolls gain in popularity.
“Lobster rolls are for sale in the U.S. for as much as [US]$30 in some locations,” said Sylvain Charlebois, professor of Food Distribution and Policy at Dalhousie University, in an interview on BNN. “Price points are ridiculous. There’s this momentum to sell lobster as an ingredient. This was unforeseen months ago.”
Canada’s lobster-fishing industry has toppled $1 billion yearly, partly from strong demand in China and other parts of Asia, but also as lobster finds its way into foods such as tacos and sushi burritos.
“It was deemed to be the cockroach of the sea and now is a delicacy,” said Charlebois.
The high cost even caused McDonald’s to cancel its McLobster rollout this year, saying it was unable to offer the popular sandwich at a reasonable price on its menu.
And interest from consumers is showing no signs of slowing.
“Lobster is special because it's one of those rare ingredients that's capable of making any meal feel luxurious,” National Post Food Columnist Claudia McNeilly told BNN. “I've seen crazy lobster poutine and fried lobster and waffles making the rounds on Instagram recently, but classic lobster dishes like the French quenelle de brochet also seem to be once again gaining attention.”