NL Snow Crab Landings Fall to 1996 Levels; Japan Cuts Purchases and Prices Spike 30%
SEAFOODNEWS.COM by John Sackton August 1, 2016
Canadian snow crab prices are now 30% higher than last year, as the Newfoundland season is done, with the exception of a couple of fishing areas outside of 200 miles. The DFO reports that 37,958 tons have been landed, or 89% of the 42,650 ton quota. However, nearly 3000 tons of quota is in areas such as 3PS where the fishery has already closed, so total landings will be below 40,000 tons.
This is the lowest landing total since 1996.
Snow Crab prices began rising in the US market last fall, and by the opening of the Alaskan season, which saw a 40% quota cut, prices were the highest in three years. Prices have climbed steadily since then, for both Newfoundland and Gulf of St. Lawrence crab. In the US spot market, crab is on offer at $6.85 to $6.95 for 5-8 brine bulk sections. Alaska crab is not available....
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