![]() In recent years, sea scallops and lobsters have accounted for approximately 70% of the ex-vessel value of seafood landed in Massachusetts, so it is no surprise that large fluctuations in the value of these species impact the overall value. ![]() Second the ex-vessel price/lb paid for lobster was down nearly 25% from 2021, resulting in a reduction of $44 million in ex-vessel value. First, sea scallop landings were down 23% in 2022, resulting in a reduction of $125 million in ex-vessel value. The biggest drivers to the reduction in value for 2022 as compared to 2021 can be traced to two major factors. The previous two years were preceded by a very difficult year for the seafood industry in 2020 when the ex-vessel value of seafood was down significantly due to pandemic-related impacts. This value is similar to 2019 and still well above the previous 5-year average (see Figure 1). After reaching an all-time high of over $800 million in 2021, the ex-vessel value of seafood landed in Massachusetts returned closer to pre-pandemic norms with a total value of approximately $670 million. ![]()
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