Lobster demand drives prices to 11-year high

Lobster, which has become an affordable luxury over the past few years, may become more expensive as wholesale prices have hit the highest levels in a decade thanks to the rise of burger and lobster chains.

The demand for the crustacean comes as the success of burger and lobster restaurants has spurred popularity of the lobster roll which, along with the pork bun, has become a hipster favourite.

In London, Burger & Lobster, which was launched in 2011, has been a pioneer in the genre and has expanded to other cities around the world. Its concept of serving a pared down menu of burgers and lobsters at affordable prices has been embraced among restaurateurs in other cities around the world.

“The lobster roll ‘phenomenon’ has created excess demand for lobster meat,” said Michael Tourkistas, chief executive of East Coast Seafoods, a leading US seafood trading firm based in Massachusetts.

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About the author

Jessica Hathaway

Jessica Hathaway is the editor in chief of National Fisherman. She has been covering the fishing industry for 13 years, serves on the Alaska Seafood Marketing Institute’s Communications Committee and is a National Fisheries Conservation Center board member.

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