Lobster Prices Plummet Due to Oversupply

Quintana Roo fishermen are grappling with a challenging economic environment despite a successful lobster season. The Caribbean region is experiencing an oversupply of the crustacean, leading to a significant decrease in prices. This has left local fishermen struggling to find buyers for their catch.

Baltazar Gómez Catzín, a prominent figure among Isla Mujeres fishermen and president of the State's Federation of Fishing Cooperatives, stated that the lobster market is oversaturated. Lobsters from countries such as Belize, Venezuela, Cuba, and El Salvador have flooded the market, causing prices to fall sharply. Currently, live lobsters are sold at 250 pesos per kilo, and the tails at 500 pesos, a significant decrease from the previous prices of 700 and 1,100 pesos respectively.

However, there is a silver lining as octopus sales have provided some relief for the fishermen, trading between 120 and 150 pesos per kilo. Unfortunately, other seafood like cod have also seen a drop in prices, now selling at 180 pesos per kilo, down from 250.

Weather conditions have added to the challenges facing the fishing industry. Fishermen in Isla Mujeres have reported being unable to go to sea for over ten days due to storms, further exacerbating their economic woes. Victor Sanchez, from the Ensueño del Caribe cooperative in Holbox, highlighted that stormy weather and the hurricane season have created a crisis for local fishermen. He also noted that the ongoing conflicts in Israel and between Ukraine and Russia have restricted exports to the United States, contributing to the continued decline in lobster prices.

On a brighter note, Holbox fishermen have seen better returns from octopus fishing, which now sells at 110 pesos per kilo, up from 50 pesos the previous year. Other species like snapper, grouper, and hogfish are selling for 180 pesos per kilo. Despite these small victories, Sanchez stated that 2024 has been a difficult year for the fishing industry overall, as traders continue to demand lower prices.