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Business and Economy

Maine To Let New People Into Lucrative Elver Fishery

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Robert F. Bukaty
/
Associated Press/file
In this May 25, 2017 file photo, baby eels, also known as elvers, are held in Brewer, Maine.

AUGUSTA, Maine - The state of Maine is allowing nine people to participate in the fishing industry that harvests baby eels, which are among the most valuable natural resources in the state. Baby eels, called elvers, are harvested so they can be used as seed stock by Asian aquaculture companies. They are typically eventually used in Japanese food.

The eels were worth more than $2,300 per pound in Maine in 2018.

The Maine Department of Marine Resources is planning to hold a lottery for the right to apply for an elver fishing license. The department will accept applications to participate in the lottery from Thursday to Feb. 21.