In St Andrews, on Canada’s Eastern seaboard, I can see the American state of Maine across the St Croix River that flows into Passamaquoddy Bay. This is lobster country, with hundreds of fishermen here making a livelihood from the prized crustacean.

In Maine, the industry is even bigger. These waters supply not just the North American market, but exports to Europe and the Far East as well. So when prices fall, thousands of families are affected. Strangely enough, as meat, chicken and grain prices have been rising steadily in recent years, lobster prices along the North American Atlantic coast have fallen.

Basically, this is because their numbers have been increasing rapidly. Experts have advanced a number of reasons for this phenomenon: global warming is producing conditions more conducive to reproduction; rules about throwing egg-bearing females back into the sea are being more stringently applied; and predators like cod that used to eat baby lobsters are in decline.

Steamed in lemon butter sauce, cooked into a risotto, grilled or barbequed; lobsters are more than a way of living, they’re an entire tourist and export industry unto their own

Whatever the reason, lobsters are cheaper than ever before: fishermen are now paid under three dollars a pound for their catch, while wholesale prices are around $10. But despite these low prices, restaurants have not reduced what they charge. While we can ascribe this to pure greed, the real reasons are more complex.

For one, by keeping lobster prices high, other seafood seems very reasonable by comparison. Then, if a restaurant reduces the price of lobster on the menu, it will make this delicacy seem less of a special treat. Finally, if prices go back up in a year or two, it will be difficult to restore lobsters back to the same high price.

The crustaceans we get in the Indian Ocean are far smaller than their Atlantic cousins. In fact, what we call lobsters are in fact langoustines, and lack the big pincers the true lobster carries. When being sold live, these are encased in rubber bands to prevent them taking a chunk out of the cook’s hands.

Alive, they are a brown-green colour, but when boiled, they become a deep red. I find the sound of a live lobster trying to scramble out of boiling water a bit disturbing, even though it only lasts for a few seconds. One option is to place the lobster in the freezer for half an hour or so before cooking it. This will put it to sleep, and it will be unconscious when you lower it into the boiling water.

A lobster’s meat is slightly sweet, and when dipped into a lemon butter sauce, it can be divine. The best lobster I have ever had was in Lamu, on the Kenyan coast, over 20 years ago. Even though this was in fact a large langoustine, it had a very slight bitter aftertaste that balanced the sweetness of the meat perfectly. When I asked the chef how he achieved this delicious combination, he said he injected the lobster with a little whisky before cooking it, making sure it died happy.

I must confess I am not a fan of lobster Thermidor where the meat is removed, cooked in a white wine sauce and returned to the shell, topped with Parmesan cheese, and broiled under a grill. For me, this overpowers the delicate flavour of the lobster. Barbecuing it in the shell risks drying out the meat unless it is constantly basted in butter.

The Palm in Washington DC is a restaurant that only serves steak and lobster. I was invited there for lunch many years ago, and when I decided on lobster, the waiter asked me what size I wanted. When I asked him about the range, he replied: “From £2 to 12.” I asked for the smallest, and was still served with a good-sized one. The waiter tied a bib around my neck, and cracked the tail and the claws for easy access to the meat. A bowl of lemon butter sauce was placed before me, and I proceeded to dig in.

One advantage of cooking your own lobster is that you can use the shells to make a nice stock. This, in turn, can be the base for a seafood risotto or a satisfying soup. While I’m in New Brunswick, I plan to take advantage of the low prices …

Published in Dawn, Sunday Magazine, August 10th, 2014