People who like seafood often buy lobster as a treat, and its prices have reached their highest level in ten years because of higher demand. Live lobster prices can be volatile and fluctuate based on seasonality, location, and market demand. Leading people to ask.
With its sweet, succulent meat, spiny lobster is considered a luxury seafood item. But how much does this crustacean delicacy actually cost? In this comprehensive guide, we’ll break down the average cost of spiny lobster based on location, size, source and other factors.
Overview of Spiny Lobster
First let’s briefly discuss what exactly spiny lobster refers to. There are a few varieties but the most common are the Caribbean spiny lobster (Panulirus argus) and the Florida spiny lobster (Panulirus guttatus). These warm water lobsters are found throughout the Caribbean Sea, Gulf of Mexico and Florida Keys. They have a firmer texture and more pronounced flavor than cold water lobster. The tail meat is prized and often sold separately as lobster tails.
Average Cost of Whole Spiny Lobster
The average price for whole cooked spiny lobster ordered from a restaurant or seafood retailer typically ranges from $15 to $30 per pound. However, there are many factors that affect the final cost:
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Location – Prices are generally highest in landlocked areas far from the coasts. Expect to pay more for spiny lobster if you live in a place like Kansas versus Florida.
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Size – Larger lobsters over 1.5 pounds cost more per pound than smaller lobsters under a pound. Jumbo lobsters can cost up to $50+ per pound.
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Source – Prices are higher if purchasing imported lobster out of season versus local in-season lobster. Florida spiny lobster costs less in Florida.
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Where Purchased – Prices at high-end restaurants are higher than casual restaurants or direct from retailers/docks.
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Time of Year – Prices spike when lobsters are out of season and lowest during peak harvest times.
Average Cost of Lobster Tails
Since the tail is the prized portion of spiny lobster, lobster tails are widely available. The average cost for frozen raw lobster tails bought from retailers and online sources is:
- 5-6 ounce tails: $12 to $15 each
- 8-10 ounce tails: $15 to $25 each
- Jumbo 12+ ounce tails: $25 to $35 each
At restaurants, expect to pay 2-3 times more for lobster tail entrees compared to buying raw tails to cook at home.
What Impacts the Cost of Spiny Lobster?
Several key factors impact the market price of spiny lobster, whether you’re buying whole lobsters or lobster tails:
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Wild Supply and Demand – Prices fluctuate based on the lobster harvest each season. A reduced catch drives prices up.
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Processing and Transport – Handling, freezing, storing and shipping lobster adds to costs. Areas far from coastal fishing pay higher prices.
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Regulations – Strict size regulations, catch limits and seasonal restrictions control supply and availability.
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Restaurant Markups – Menu prices incorporate food costs plus labor, overhead, profit margins. There are more costs involved in dining out.
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Imports vs Local – Out of season, most spiny lobster is imported frozen from the Caribbean, Central America and South America which increases costs.
Estimated Prices at Lobster Retailers
To give you an idea of real-world spiny lobster pricing, here are current price ranges at popular seafood retailers:
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Keys Fisheries (Florida Keys): Lobster tails around $40 per pound
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Key Largo Fisheries (Florida Keys): Lobster tails around $20-30 each (6-10 ounces average)
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Maine Lobster Now (Online): Lobster tails average $15-25 each (5-8 ounce)
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Larry’s Seafood (Online Florida Company): Lobster tails average $13-18 each (5-7 ounce)
Maine Lobster Meat Price Per Pound – Market Comparison
The average price per pound of lobster meat sold in stores is between $35 and $120, but this can change depending on the time of year and demand.
Wholesale prices, on the other hand, tend to be lower because they are aimed at buyers who buy in bulk, like seafood markets and restaurants. Regardless, comparing prices from various sources is essential to get the most favorable deal.
What Is the Most Expensive Part of a Lobster?
The lobster tail is the most expensive part due to its tenderness and flavor. It can make up almost half of the lobster’s weight and is simpler to cook than other parts.
Why Lobster Is So Expensive | So Expensive
How much does a spiny lobster trap cost?
According to data from PacFIN, spiny lobster trappers in 2020 landed 329.5 metric tons of the critters for an average ex-vessel price of $19.09 per pound for revenues of $13.87 million. So far in 2021 the fleet put in 88.9 metric tons at average ex-vessel prices of $27.34 per pound for revenues of $5.36 million. Those are the averages.
How much do lobster tails cost?
A 1 lb package contains two lobster tails, approximately 8 oz. each. Amount 1 lb. (2 each 8 oz. tails) 2 lbs. (4 each 8 oz. tails) 1 lb. (2 each 8 oz. tails) – $69.95 USD2 lbs. (4 each 8 oz. tails) – $139.90 USD Quantity Regular price$69.95 Shippingcalculated at checkout.
Where to buy Florida spiny lobster?
Numerous restaurants and seafood enthusiasts look to buy Florida spiny lobster from us. Key Largo Fisheries is well-regarded for its high-end specialty seafood products, especially their Florida lobster tails for sale. So when you’re looking to buy Florida spiny lobster, you can trust that we’re the ideal choice.
How much does a live lobster cost?
Live lobster prices vary depending on the time of year, market conditions, and supplier. In March 2023, the average price for live Maine lobster was around $13–$15 per pound, with lobster tails falling between $29.99 and $32.99.