World Markets for Crab Prepare for the Holiday Seasons

In August, the Federal Reserve received encouraging news on the inflation front as one of its key economic indicators, the personal consumption expenditures (PSE) price index, excluding food and energy, rose less than expected. This development suggests that the interest rate increases over the last year are yielding positive results. This is the smallest monthly increase since November 2020. Along with this, consumer spending rose 0.4%. That is down sharply from 0.9% in July.

All income groups pulled back on spending in August...

Responsible Seafood Summit: “Some Fails But Overall Success” With Ropeless Gear In Snow Crab Fishery

“Ropeless is hopeless.” It’s a phrase that many snow crab and lobster harvesters can likely relate to following the declaration of the unusual mortality event for North Atlantic right whales in 2017. 

Martin Noël, a snow crab fisherman and Captain of the FV Jean-Denis Martin in New Brunswick, has been fishing for 29 years. And on the “ Close To Home: Innovation and Adaptation Amongst Canadian Snow Crab and Lobster Fisheries” panel at the Global Seafood Alliance’s Responsible Seafood Summit...

U.S. Imports of Snow Crab From All Sources Soar Through July

Americans accumulated over $2.1 trillion during the pandemic in governmental stimulus and there were limited spending opportunities due to lock down. Since the pandemic isolation has ended, consumers are spending again. Starting from August 2021, consumers have drawn down about $1.9 trillion in their savings, leaving less than $190 billion of that excess savings remaining in the overall economy. Based on the current rate it is likely that the surplus savings would be completely used up in the third quarter of 2023. This projection is shared...

ANALYSIS: Larger Snow Crab Volumes Light; Retail Remains Active

8-and-10 up snow crab continue to move higher this week while 5-8s remain steady at listed levels. As the fishing season nears its close after multiple extensions in Newfoundland, a theme has held true since the season began—larger crab is tight.

We see evidence of this as 8-up snow crab out of both Newfoundland and the Gulf continue to adjust higher and the price difference between 5-8s and 8-up crab continue to grow. Although not the...

Limited Supply Will Eliminate King Crab From Many Market Segments In The U.S. 

As the Canadian snow crab season wraps up one must ask the question of what is next for the high value crustacean supply. Nothing has the plate-presence of king crab. U.S. consumers love Red King Crab legs at their dinner table. After the carryover Russian king crab is gone, new harvest king crab for the U.S. market, including Alaska Golden king crab, will be down an estimated -80% this year compared to 2021 and 2022. This is an estimated 20-25mm lb reduction of supply of king crab. What will replace the Red King Crab on the plate?

NL Snow Crab Update: 80% Landed As New Season Extensions Announced

New snow crab season extensions for Newfoundland and Labrador were announced by Canada’s Department of Fisheries and Oceans (DFO) on Wednesday. 

Harvesters are still out on the water with 80% of the 54,305 MT quota landed as of July 24. According to preliminary data, 10,858 MT still remains. 

As SeafoodNews previously reported,  the DFO extended NAFO Division 3K (including areas 3B, 3BC, 3C, 3D and Area 4) to July 28. The 3Ps Crab Fishing Area (including 10A, 10B, 11S, 11W and 11E) also received...

Newfoundland and Labrador Snow Crab Season Extended Again To Late July

Snow crab harvesters in Newfoundland and Labrador received yet another extension as 14,325 MT remains in the water. 

The Department of Fisheries and Oceans Canada (DFO) sent out a notice on Tuesday announcing that the snow crab fishery has been extended for NAFO Division 3K. This includes areas 3B, 3BC, 3C, 3D and Area 4. Those areas will now close at 2000 hours on July 28. 

The DFO had initially extended the fishing area to July 14, and then July 21. Now harvesters have...

VIDEO: NL Snow Crab Extension; MLMC's Maine Characters Campaign; Alaska Symphony of Seafood 2024

Join SeafoodNews Managing Editor Amanda Buckle as she highlights three of the most read stories of the week, including the extension of the snow crab season in Newfoundland and Labrador; the Maine Lobster Marketing Collaborative's Maine Characters campaign; and the call for products for the 2024 Alaska Symphony of Seafood. 

This episode of the SeafoodNews Weekly Video is brought to you by Urner Barry's Data on Demand! Transform your data challenges into valuable business opportunities with real-time commodity market information...

The Premiumization of Crab And Other High Value Seafood is Over

The last time this column discussed price elasticity was June 2021 to review the unusual increase of demand for crab even with increasing prices. In 2021 the premiumization of high value seafood, led by king and snow crab, resulted in prices being relatively inelastic (demand largely ambivalent about price changes). Both king crab and snow crab showed major increases in imports even as prices increased rapidly and the trade could not get product fast enough for the demand.

While this was great for sellers during 2021...

Snow Crab Landings And Closure Updates For NL 

Snow crab harvesters in Newfoundland and Labrador have landed just under 50% of their quota on what should have been the eve of the season closure for many fishing areas. 

According to preliminary data released by Fisheries and Oceans Canada (DFO), all NAFO divisions in NL have landed 26,537 MT of their 54,305 MT quota. This accounts for 49% taken and means that 27,767 MT remains for the season.

Harvesters in the area got a late start due to a pricing dispute between FFAW-Unifor and the Association of Seafood Producers (ASP)...

Japan: Unusual Increase in Small Bairdi Snow Crab Impacting Flatfish Fishery in Hokkaido

According to a report by the Suisan Shimbun, there is an abnormal outbreak of bairdi snow crabs in Funka Bay, Hokkaido. According to flatfish gillnet operators, they are reducing the number of nets because it takes time to remove the animals from the nets, and the quantity of high-quality flathead flounder and pointhead flounder is less due to the damage caused by the crabs. Both flounder and crab are showing low beach prices. The nets are so severely damaged that they become ruined in a month...

NL Snow Crab Price Likely To Go Up Based on Urner Barry’s Index

Editor’s Note: SeafoodNews is owned by Urner Barry.

On Tuesday the snow crab complex in Urner Barry’s Seafood Price-Current adjusted ten cents higher out of Newfoundland and Labrador on 5-8 oz. crabs. Pricing now stands between $4.95 -$5.15. Based on these figures, it’s likely that there will be an increase to NL harvesters next week.

Per FFAW-Unifor’s agreement with the Association of Seafood Processors (ASP), the snow crab fishery started with a minimum price of $2.20. Both parties agreed that the...

FFAW Says Possibility of All NL Snow Crab Quota Being Landed Is “Unlikely”

Snow crab harvesters in Newfoundland and Labrador are now entering their fourth week of being on the water. Fisheries and Oceans Canada has preliminary landings data as of June 10, and based on the information, only 23% of the 54,305 MT has been landed so far. The June 30 closure is quickly approaching, and FFAW-Unifor says that the “possibility of all quota being landed this year is becoming more and more unlikely.” But that’s not the only issue at hand. The union says that...

Snow Crab Landings Update For NL, Gulf and the Maritimes Region As Of June 9

Area 12 in the Gulf of St. Lawrence is close to landing 100% of their quota. As of June 9, Area 12 in the Gulf has landed 30,507.267 MT of their 31,672.974 MT quota. This figure represents  96.32% landed. Only 1,165.707 MT remains for the 2023 season.

In Newfoundland and Labrador 21% of their 54,305 MT quota has been landed so far. That area has 42,741 MT remaining.

Crab Fishing Area 12 in NL was originally supposed to close on June 15...

FFAW Calls On Government To Provide Emergency Economic Grant For Crab Industry

Crab harvesters are finally back in the water and chipping away at their snow crab quota after a six week delay due to pricing negotiations. But FFAW-Unifor is still hard at work seeking economic support for the industry – this time due to the post–pandemic collapse of the fishery.

“Both federal and provincial governments declared fish harvesters and plant workers essential workers during the onset of the COVID-19 pandemic – critical to both the economy and food supply of the country,” said FFAW-Unifor President Greg Pretty...

Snow Crab Update: NL Minimum Price to Harvesters Increases, Plus Landings Updates As Of June 2

The minimum price of snow crab for Newfoundland and Labrador harvesters is going up. Per FFAW-Unifor’s agreement with the Association of Seafood Processors (ASP), the snow crab fishery started with a minimum price of $2.20. However, both parties agreed that the price would increase if Urner Barry’s price increased. On Thursday Urner Barry’s price for 5-8s increased to $4.85, bringing the minimum price to harvesters from $2.20 to $2.25...

Norway Sees Large Increase In Export Value to U.S. in August 2023

Norway saw some growth in export value last month, reaching NOK 14.2 billion, a NOK 1.8 billion increase compared to August 2022. 

According to the Norwegian Seafood Council, they saw the largest growth in export value in August from the U.S. Of the total export value of NOK 14.2 billion, the U.S. made up a total of NOK 1.5 billion, which accounts for 104% of the total Norwegian seafood exports in August. However, it was an increase in export value by 24%. 

“The USA is becoming an...

3LNO Snow Crab Season Closure Approaching After Multiple Extensions

The 3LNO snow crab fishery is set to close on Thursday, August 31 after multiple extensions were granted by Fisheries and Oceans Canada (DFO).

Extensions were granted this year due to harvesters staying on land for weeks over a price dispute. The Fish, Food and Allied Workers (FFAW) and Association of Seafood Processors (ASP) had failed to come to an agreement on pricing, resulting in the two parties having to submit their final price offer to the Standing Fish Price Setting Panel. The Panel selected...

NL Snow Crab Harvesters Receive Another Season Extension As Catch Hits 91%

Snow crab harvesters in Newfoundland and Labrador have received yet another extension on their season. The Department of Fisheries and Oceans (DFO) announced on Thursday that the snow crab fishery for all CMAs in NAFO Division 3LNO, with the exception of 8Bx South, will be extended until August 31, 2023.

The DFO’s last extension was announced in late June when harvesters had landed 80% of their 54,305 MT quota. The extension that was confirmed on August 10 comes with 91% of the quota landed...

VIDEO: NL Snow Crab Update; NJ Fishermen Challenge Chevron Deference; Seafood Retail Features

SeafoodNews Managing Editor Amanda Buckle takes a look at three of the top read stories of the week, including an update on what's going on with the snow crab fishery in Newfoundland and Labrador; the latest battle for New Jersey herring fishermen; and seafood features at retail.

This episode of the SeafoodNews Weekly Video is brought to you by Urner Barry's Data on Demand! Transform your data challenges into valuable business opportunities with real-time commodity market information, seamlessly integrated directly into your company's...

FFAW Calls For “Dramatic Overhaul” Regarding Drilling in Crab Fishing Grounds

The Fish, Food and Allied Workers Union (FFAW-Unifor) is speaking out after the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) and Exxon began drill operations in crab fishing grounds during peak times. 

“Our members feel this brewing spatial conflict is representative of the continuous disregard for the fishing industry,” said FFAW-Unifor President Greg Pretty. “Expansion of the oil and gas industry needs to be considered alongside the fishery, not in priority to it. We made the Board aware of our objections and the importance of...

Russian Snow Crab Bids Drop 24% to $14 at Busan Auction

The second Russian Opilio snow crab auction in 2023 was recently held in Busan, South Korea. According to trading company sources, 335 tons of airblast frozen boiled sections (L to 4L size) were put up for bidding, and the winning bid was $13-14/kg, down 24 to 28% from the second auction last year. According to multiple people involved, the sales price in Japan is expected to be slightly above the 2,000 yen/kg ($14.39/kg) range for L size in a 5 kg box...

Snow Crab Update: Additional Season Extensions Announced For NL

Snow crab harvesters in Newfoundland and Labrador have received additional season extensions in a handful of areas. 

Canada’s Department of Fisheries and Oceans (DFO) confirmed on Tuesday that the snow crab fishery has been extended  for all Crab Fishing Areas (CFAs) in NAFO sub-Division 3Ps.  This includes 10A, 10B, 11S, 11W and 11E. The DFO initially announced an extension for the 3Ps areas in late June. At that time the 3Ps had an extended date of 2000 hours on July 14. Now, thanks to the latest extension...

Snow Crab Landings Update For NL, Gulf and the Maritimes Region As Of July 6

Snow crab harvesters in Newfoundland and Labrador have landed 58% of their catch.

According to preliminary data released by Fisheries and Oceans Canada (DFO), all NAFO divisions in NL have landed 31,503 MT of their 54,305 MT quota. This accounts for 58% taken and means that 22,802 MT remains for the season.

Harvesters in NL got a late start because of a price dispute between FFAW-Unifor and the Association of Seafood Producers (ASP). And while most areas were supposed to close by the end...

NL Snow Crab Season Extended in 3Ps, 3K

Fisheries and Oceans Canada (DFO) announced on Friday that they’ve extended the snow crab season for certain areas. The extension is welcome news for harvesters whose season was delayed due to pricing conflicts.

NAFO Division 3K – Areas 3B, 3BC, 3C, 3D and Area 4 will now close at 20:00 hours on July 14, 2023. Area 3A will now close at 20:00 hours on July 29. 

NAFO sub-Division 3Ps has also extended the date. 10A, 10B, 11S, 11W and 11E will now close at 20:00 hours on July 14...

Snow Crab Landings Update for NL, Gulf and the Maritimes Region As Of June 16

It’s official. Area 12 in the Gulf of St. Lawrence has landed 100% of their quota.

According to Fisheries and Oceans Canada (DFO) preliminary data as of June 16, Area 12 in the Gulf has landed 31,754.548 MT of their 31,672.974 MT quota. This figure represents 100.26% landed. New Access in Area 12 landed 5,636.751 MT of their 4,772.748 MT quota, which is over 864.003 MT. 

Area 12F in the Gulf, which has a quota of 1,319.743 MT, has landed 97.59% of their quota with...

Snow Crab Landings Update for NL, Gulf and the Maritimes Region As Of June 13

The snow crab season in Canada is winding down with many areas set to close on June 30. While the Gulf of St. Lawrence is nearing 100% of their quota, FFAW issued a warning late last week that harvesters in Newfoundland and Labrador would unlikely be able to land all of theirs.

Newfoundland and Labrador harvesters remained on land for six weeks due to disagreements over pricing. They’ve now entered into their fourth week on the water, but according to preliminary data...

ANALYSIS: Canadian Snow Crab Market Full Steady; Retail Fluctuates

Currently the snow crab market is full steady across all sizes in Newfoundland and the Gulf. A few higher offerings are noted across all sizes.

Market participants have started to discuss whether the full quota out of Newfoundland will be fished and whether Newfoundland will be granted an extension to their fishing season beyond June 30. As of this writing, no extension has been granted. Market participants also note that softer shell crab can begin to be an issue further into...

Snow Crab Landings Update For NL, Gulf and the Maritimes Region As Of June 7

Newfoundland and Labrador is continuing to chip away at their 54,305 MT quota with 19% caught. Fisheries and Oceans Canada landings data as of June 5 reveal that 10,059 MT has been landed so far, with 44,246 MT left to go before the season closes. A closure date is not listed on the preliminary data page, but it is supposed to be June 30. There has been talks about extending the season closure due to the late start that harvesters got. However...

Red Lobster Brings Back Crabfest After 4 Years

It’s been four long years…. But Crabfest is finally back at Red Lobster! 

Of course Crabfest this year is a little different than prior years. When Red Lobster celebrated in 2018 the menu included options like Jumbo Snow, Dungeness Crab and King crab. King crab is no longer an option due to the Alaska fishery being closed for the past two years and the ban on Russian imports. As a result, this year the popular seafood chain is only offering Snow crab or Bairdi (while supplies last)...