Why is Lobster So Expensive? An Explanation.
When colonists first settled in the New England area, the price of lobsters was crazy cheap. Today, the price is crazy expensive. Here is an explanation as to why exactly lobster pricing continues to increase year after year.
Lobster Pricing Explained.
Back in the Day
In the late 1700s and throughout the 1800s, lobsters were plentiful and so cheap as a result of their high supply. Adding to that, they would simply wash up on the shores of New England making them so easy to catch without the need for farming technology. Natives would use lobsters for the first clambakes, as bait for fishing, and even to fertilize crops – yes, they were that abundant and cheap.
Today
These days, lobster rolls on menus are priced as high as $35 USD in major cities and $100 for a 2-lb platter. Not quite fertilizer or bait pricing.
As opposed to the high supply in the 1800s, today there is an exponentially high demand from all over the globe. Moreover, lobsters are no longer over-populated; rather, they have declined in numbers and are over-harvested. On top of that, it takes 7 long years for lobsters to grow to 1 lb, which is the minimum requirement for harvesting.
But wait, there are more reasons for the price increase…
Modern farming technologies, harvesting tools and techniques, and cold storing have all contributed to the rising cost and pricing. Plus, the texture of lobster is not great when frozen, so shipping logistics to preserve the lobster’s life as they are best cooked while alive also adds to the price. And finally, these days, labor shortages from the supply chain are increasingly common and further contributing to the expensive price tag.
The price of lobster will not lessen any time soon; rather, the price may continue to increase each year because of the high global demand.
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