11/06/2013 09:49 EST | Updated 01/23/2014 10:53 EST

Maritimes lobster panel to release report Thursday on falling prices

AMHERST, N.S. - An independent panel that was set up by the three provincial governments in the Maritimes to examine slumping lobster prices will release its report Thursday.

Fisheries ministers in the region announced the creation of the three-member panel in May in response to growing pressure from fishermen.

Their report is expected to explore the reason behind this past spring's lower lobster prices as well as provide marketing advice and recommendations on how to improve the pricing system.

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 report will be released in Amherst.