There will be no lobster rolls at McDonald's this year.

The McLobster had been an annual staple on the menu at east coast restaurants during the summer lobster season.

"Unfortunately, we will not be serving McLobster as part of our menu across Atlantic Canada," said Adam Grachnik of McDonald's, in an email to CBC News.

"The increased price of lobster per pound means that we are currently unable to offer this menu item at a reasonable price for our guests."

Prices higher than ever, says processors association

Island fishermen are getting $6.00-$7.00/pound for canners, and $6.50-$7.50/pound for market lobsters right now.

The P.E.I. Seafood Processors Association says prices are the highest it has ever seen.

Other locally-owned restaurants are feeling the impact.

Maid Marian's in Charlottetown delayed offering its lobster roll this year in hopes that the price would come down, but is now offering it for $11.99, two dollars more than last year.

The restaurant's owner says that's still a price customers are willing to pay.

"I think everybody understands the price of lobster is up, especially those in Atlantic Canada," said owner Peter Walker. "They know the price is high and they know they're getting good quality, so they don't mind. And it's great the lobster fishermen themselves are getting a better price. It's good for the economy."

Dennis King, the Executive Director of the P.E.I. Seafood Processors Association, says McDonald's move to drop the McLobster this summer isn't likely to hurt processors or fishermen. (Laura Meader/CBC)

Lobster processors not concerned

The executive director of the P.E.I. Seafood Processors Association says it's "unfortunate" McDonalds isn't carrying the McLobster this year.

But Dennis King doesn't think the move will hurt Island fishermen or processors.

"The national and international market for our lobster is as good as it's ever been. That's what's driving the price," said King. "The U.S. market is still the biggest marketplace for our lobster. China is coming on very hot as well, as are some other Asian countries."