Two-thirds of live lobsters sold overseas by the U.S. ended up in Asia last year.
The 36 percent increase offsets the Main Lobster losses in Europe, which spent $40.3 million less on live lobster last year. A trade deal with Canada makes it cheaper for Europeans to buy from them.
Current lobster dealers in the U.S. are concerned that Asia could see the low prices that Europe is buying from Canada and either start buying from them or negotiate lower prices from America. Asia cannot absorb the amount of lobster that was once bought by Europe. Asian customers prefer larger crustaceans than what was previously bought by Europe. It is also unlikely that the live lobsters are hardy enough to continue surviving the trip to Asia.
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