Lobster prices reach historic heights as Atlantic tourism surges

A visit to Halifax would not be complete without a lobster-roll. Some Atlantic restaurants are now restoring the lobster roll to their menus, as historical highs have reached.

The Armview Restaurant & Lounge in Halifax charges $15 for most entrees. Their lobster roll costs $30, as lobster prices rise.

Colin March, Armview Restaurant and Bar’s chef, told CTV National News that the restaurant is a family diner. “By putting a lobster sandwich in the menu, we could easily be in the low to mid 30’s.”

As a result, lobster demand plummeted as did the price of the highly sought-after crustaceans. The shore price—the amount fishers get at the wharf from buyers—sunk as low as $4 dollars a pound.

Wharf prices have seen a dramatic rebound in their prices. saidThey are almost five times more than they were two year ago.

“Think about it, March is a great time to be a lobster fishingman.” said.

Canadian lobster exports surpassed the previous record by more that 25% in 2021 to reach a staggering $3.3 Billion

However, profits aren’t going up. Everything from fuel for boats and bait has seen an increase in expenses.

Restaurants hope that locals and tourists will accept the price rises to help the local economy.

“We’re Nova Scotia’s largest exporter and a major economic driver,” said March. March.