Advertisement

Chart of the week: lobster prices are boiling over

Hipsters’ passion for lobster rolls has helped propel lobster prices to an 11-year high. Global lobster imports were 7% up year-on-year in the first quarter, with imports to the EU up 20%.

816-COTW-1200

Hipsters have helped propel lobster prices to an 11-year high, says Emiko Terazono on FT.com. Over the past few years, the crustacean has become an "affordable luxury", thanks to the surging popularity of the lobster roll, which used to be largely confined to New England.

Lobsters have also begun to appear in discount supermarkets. The price dip following the global financial crisis has bolstered demand in Asia. Global lobster imports were 7% up year-on-year in the first quarter, with imports to the EU up 20%. Demand has overwhelmed a gradual supply increase in recent years.

Viewpoint

"The consumption of financial media can be dangerous In August 2000, Fortune magazine [tipped] Ten stocks to last the decade' [the] recommendations concentrated on technology, media and telecoms stocks the Fortune portfolio lost 65% of its value over the subsequent decade. Three companies went bankrupt, and one was bailed out. In the words of the legendary value investor Benjamin Graham, Investors do not make mistakes, or bad mistakes, in buying good stocks at fair prices. They make their serious mistakes by buying poor stocks, particularly the ones that are pushed for various reasons [by Wall Street]'."

Advertisement - Article continues below

MoneyWeek contributor Tim Price in his PFP Wealth Management newsletter

Advertisement
Advertisement

Recommended

Invest in water and provide a buffer against future pandemics
Soft commodities

Invest in water and provide a buffer against future pandemics

Global water shortages have long hampered growth and development, and climate change has exacerbated the problem. Will the coronavirus pandemic be a t…
22 May 2020

Most Popular

Eagle Lightweight GT: the reincarnation of the E-type Jag
Toys and gadgets

Eagle Lightweight GT: the reincarnation of the E-type Jag

Jaguar’s classic E-type sports car has been reinvented for the modern age. The result – the Eagle Lightweight GT – is a thing of beauty.
7 Aug 2020
Platinum: the precious metal that looks set to play catch-up with silver and gold
Silver and other precious metals

Platinum: the precious metal that looks set to play catch-up with silver and gold

Gold and silver continue to soar, but there's still time to get in. And there's another precious metal that looks set to go on a bull run too, says Jo…
7 Aug 2020
The MoneyWeek Podcast: how to age well and profit from the “longevity dividend”
Investment strategy

The MoneyWeek Podcast: how to age well and profit from the “longevity dividend”

Merryn talks to economist and author Andrew J Scott and discusses how we can profit from the "longevity dividend" as we live longer; why we need to re…
6 Aug 2020