Canada’s Credit Drives Lobster Prices Lower 

Demand has been down as diners worldwide are feeling the effects of the global economic downturn, but a new problem recently surfaced.

The banking crisis left Canadian processors short on credit, trapping Maine lobstermen and dealers with too much supply.

As a result, the boat price lobstermen are getting for their catch has fallen to as low as $2.25 this month.

Gouldsboro lobster dealer Dana Rice says it’s the industry’s biggest struggle in his more than 30 years in the business.