Fisheries ministers in the region announced the creation of the panel last month in response to growing pressure from fishermen.
The panel includes longtime fishing consultant Gilles Theriault, former federal Fisheries Department manager John Hanlon and Lewie Creed, a former provincial deputy minister of fisheries.
The Nova Scotia government says the group will meet with organizations representing fishermen, buyers, brokers, shippers and processors in P.E.I. starting the second week of July.
The panel will move the discussion to Nova Scotia the following week before heading to New Brunswick.
A meeting with aboriginal representatives is planned for August.
The panel's report, expected in September, will explore the reason behind this spring's lower lobster prices as well as provide marketing advice and recommendations on how to improve the pricing system for all sides.