YORK (AP) – Gov. John Baldacci says the tanking price of lobster underscores how the market is interconnected with the global economy in ways that weren’t understood previously.
A combination of consumers’ declining appetite along with tight credit that killed demand from Canadian processors caused a drastic reduction in value of Maine’s signature seafood.
Baldacci says new figures from the Department of Marine Resources illustrate the severity of the problem: Maine lobstermen received less than $20 million for their catch in October, compared to more than $60 million in the same month in 2005, which was a record year for value.
The governor, who spoke Thursday at a lobster conference in York, has set up a task force that’ll be led by Ron Phillips from Coastal Enterprises in Wiscasset.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.