Some Island fishermen say they're confident record lobster prices in Nova Scotia right now will mean a favourable price at P.E.I. wharfs this spring too.
Buyers in Nova Scotia told CBC this week they're paying $8 per pound right now — a price higher than they've ever seen in early May.
They say the relatively low Canadian dollar and the growing demand for lobster in Asia are likely the cause.
"It gives you hope, yes," said North Rustico fisherman Dalis Peters. "You know the demand is there, and when the demand is there, the price should be there [on P.E.I.]"
Fishermen hoping for $7/pound
Island fishermen have been hauling in traps since Monday. But some say they won't know how much buyers are paying on P.E.I. until next week, when they get their first financial statements of the season.
Norman Peters, another North Rustico fisherman, said he's not expecting to get $8 per pound for his lobster. He said because most P.E.I. lobster is processed, it generally sells for a slightly lower price than in Nova Scotia.
Peters said he'll be more than happy if buyers pay $7/pound for his catch.
"That would be great … for everyone," said Peters. "When we do good, we spend money. We trade trucks. The people in the auto business know when it's a good season."
"It's a whole lot better outlook than a few years ago," added Dalis Peters. "Then they were talking 3 dollars a pound, and you hated to get out of bed in the morning because you knew you weren't going to make any money."
P.E.I'.s spring lobster season runs until the end of June.
- MORE P.E.I. NEWS | Kent Street Market set to open in downtown Charlottetown this summer
- MORE P.E.I. NEWS | How a horse from P.E.I. found a new home with a boy with autism