News Summary August 14, 2017
Today's Main Story: Stronger Canadian Dollar Creating Standoff Over Falling Shore Lobster Prices in New Brunswick
Today's lead item from Seafood News editor John Sackton reports that the strengthening Canadian dollar is pressuring the lobster industry. The season is currently closed in Nova Scotia, which means that dealers are selling off live inventory purchased at higher prices. With the Canadian dollar dropping from $1.35 to $1.25 in late July, this is the equivalent of a 7% drop in money returned back to Canada, squeezing margins.
In other news, the fleet owned by New Bedford fishing mogul Carlos Rafael is continuing to fish nearly five months after the Codfather pled...
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