
Apr 19, 2020
Baby eels are one of the most lucrative marine resources in Maine, and the price has tumbled as the fishery grapples with the difficulty of working around coronavirus
PORTLAND, Maine (AP) — The price of one of the most lucrative marine resources in Maine — baby eels — has tumbled as fishermen grapple with the difficulty of working around constraints caused by the coronavirus pandemic.
Maine is the only U.S. state with a significant fishery for the valuable baby eels, called elvers, used by Asian aquaculture companies as seed stock. The elvers are eventually raised to maturity for use in Japanese cuisine, some of which is sold in the U.S. market.
Elvers were often worth less than $200 per pound until 2011, when international sources of the eels dried up and the Maine price jumped to nearly $900 per pound. They’ve been worth more than $800 every year since, and hit a high price of more than $2,360 in 2018.
Some fishermen call the elvers “wriggling gold,” but this year, the catch is only selling for about $500 per pound.
Industry members are blaming concerns about the coronavirus for the plummeting prices.
Dealers aren't paying as much for the elvers this year, in part because shipping is more difficult and the worldwide seafood industry has been slowed by the virus, they said. Maine also delayed the start of its own season by eight days, to March 30, and is asking fishermen to follow safety rules, such as staying 6 feet (2 meters) apart.
“We're just going to the river and we're going straight home,” said Julie Keene, an elver fisherman from the Lubec area. “Price is a lot less than normal. I think we've been greatly affected.”
The need to exercise social distancing while working is a change for elver fishermen, who sometimes line the state's most productive rivers and streams cheek by jowl at the height of the season, which runs until early June.
The state should be able to complete the season if “everybody stays six feet away, keeps their distance and does everything right,” said Darrell Young, co-director of the Maine Elver Fishermen Association. However, selling and shipping the eels will remain a challenge no matter what fishermen do, he said.
For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia and death. Maine has had more than 800 cases and 34 deaths.
The elver fishery has weathered difficult times in the past, with the enforcement of stricter quotas from interstate regulators and years of protests from environmental groups who see the fishery as unsustainable. The trouble with the coronavirus is a new challenge, said Mitchell Feigenbaum, an elver dealer who said he nonetheless believes the fishery can sustain a full season this year.
“But a lot of our buyers and end users are going through what we’re going through. Uncertainty. Logistical risks and nightmares,” he said.
___
Follow AP coverage of the virus outbreak at https://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreak.
The memory business has rarely had it this good, thanks to the artificial intelligence (AI) boom. Korea’s chipmakers are reporting extraordinary earnings and unusual confidence that the good times will last. SK hynix’s third-quarter operating profit rose more than sevenfold to 83.3 trillion won ($62 billion), an operating margin of almost 80 percent. Samsung Electronics’ rose nearly ninefold to 107.4 trillion won, with its memory business setting records of its own. Across the West Sea, China’s challengers are sharing in the windfall. ChangXin Memory Technologies (CXMT) remains far smaller, but its quarterly revenue rose more than sevenfold to 118.7 billion yuan ($17.8 billion), with a net profit attributable to shareholders of 54.4 billion yuan, reversing years of losses. CXMT and Yangtze Memory Technologies (YMTC) are the twin pillars of China’s drive for memory self-sufficiency, part of Beijing’s broader pursuit of technological independence facing U.S. export restrictions. Fresh capital, new factories and increasingly sophisticated technology are helping them challenge th
The grey ring of condensation on the laminate table had almost dried by the time he finished explaining his pipeline. Outside the glass wall of the coffee shop at the edge of the financial district, the midday rush was beginning to churn: young associates balancing takeaway salads, delivery riders cutting across intersections, the persistent equatorial […] The post The ghost in the middle: How one manager upskilled himself out of the room appeared first on e27.
For 33 years, Nvidia had one face, one voice and one leather jacket. On Thursday, it lost all three. Jensen Huang, who co-founded the chipmaker in 1993 and built it into one of the world’s most valuable companies, has resigned as president and CEO. According to a regulatory filing, Nvidia’s board accepted his resignation on […] The post Jensen Huang quits Nvidia, and Southeast Asia’s chip hubs inherit the fallout appeared first on e27.
The year-end electronics event returns with 1,000-plus deals, exclusive launches and an unusual S$67 cash rebate promotion.
Apple’s digital media streaming box gets a more powerful chip, support for Siri AI, and a new remote with some nifty features, and a higher price tag.
Elon Musk’s SpaceX plans to invest more than $74 billion into building two data centers in Texas and Arizona, the company announced Thursday, marketing them as projects that will boost local communities amid backlash surrounding such facilities. “These investments will expand local tax bases, generate substantial new revenue for schools and public services, and create...
Kalshi has ended Donald Trump Jr.’s advisory role with the company after his firm, 1789 Capital, increased its investment in Polymarket earlier this year. “We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer,” Kalshi spokesperson Dani Lever said in a statement. “We are grateful...
The FBI said Thursday that North Korean hackers have stolen more than $400 million in cryptocurrency over the past 18 months using a social engineering scheme called “FaceStealer.” The scheme uses imposter versions of video conference platforms and secretly recorded web camera videos along with computer intrusions to target people working in the cryptocurrency industry,...
The top Democrats on the House and Senate's trade committees are requesting the Commerce Department preserve its records on President Trump's decision late last year to allow Nvidia to sell its H200 chips to China. The investigation was announced Thursday by Sen. Ron Wyden (D-Ore.), ranking member of the Senate Finance Committee; and Rep. Richard...
SpaceX CEO Elon Musk is hinting toward supporting Nvidia's ex-CEO Jensen Huang, who resigned Thursday following reports of his extramarital affairs — one of which involved an alleged Chinese spy. “That would be an honor,” Musk wrote on social platform X on Wednesday night — prior to Huang's resignation — in response to financial news...
Nvidia's Jensen Huang resigned Thursday as CEO amid an explosive spy scandal, but Washington isn't letting him off the hook. Lawmakers on both sides of the aisle said they still want to hear from the ex-Nvidia chief amid national security concerns about his involvement with a woman who U.S. officials concluded was passing information to China. "Jensen...
Nvidia CEO Jensen Huang resigned Thursday from the company he co-founded after revelations of extramarital affairs, including one with a woman alleged to be a spy for China. Kansas state Sen. Cindy Holscher was projected to win the governor's mansion Thursday, more than a week after Election Day. Holscher defeated Republican Kansas Senate President Ty...