Lobster Industry In Southwestern Nova Scotia Worth Hundreds Of Millions Of Dollars

Posted on Thursday, November 30, 2017 11:46 AM

The executive director of the Lobster Council of Canada says this region sells more lobster at this time of the season to the processing sector than to the live sector.

Geoff Irvine says the reason is because a signficant amount of the lobster being caught off southwestern Nova Scotia hasn't yet recovered from the molt.

"It needs to go to a non-live market and that is the processing sector," he says.

"They need that lobster this time of year to fill in their year, and they've got their workers standing by waiting for this product to come."

As the largest fishery in Canada, the lobster industry in southwestern Nova Scotia is worth hundreds of millions of dollars.

Finding the most lucrative markets is critical and complex.

Irvine says there are two sectors - live and processing.

Irvine says the live lobster sector and the processing sector are linked and rely on each other.

He says 60 per cent of the market for lobster is in the processed sector - it's a fact that more tails and whole-cooked lobster is sold than live.

"A lot goes down the road for processing, but a significant amount goes to the live sector," he says.

"And that's Christmas Market and for holding, and the Christmas Market will be in Europe, Asia and in North America."

Ivrine says the Chinese market is still one of the largest for our lobster.