Snow crab prices down by nearly 60 per cent in U.S. market, seafood analyst says | SaltWire

📆 10/02/2023 02:45:00
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Slow sales and surpluses in the U.S. are not the only headwinds for Canadian snow crab this year, writes BarbDeanSimmons. There’s also more crab coming into the markets, thanks to increased quotas in other countries.

Snow crab for the 2023 are already coming to market. In January harvesters in Alaska started fishing tanner crab, which are marketed as snow crab. Their starting price for this season is $3.25 a pound a 60 percent drop from last season's starting price of $8. - Alaska Department of Fish and GameThe snow crab season in Atlantic Canada usually doesn’t get going until mid-April, but that doesn’t mean fresh snow crab is not already hitting the U.S. market.

If the Alaskan tanner fishery is a portent of things to come, snow crab catches this year will have much less value than in 2022. Converting American dollars to Canadian, the tanner crab price is equivalent to C$4.37 and C$4.50 based on the current exchange rate, with the Loonie valued at 74 cents U.S.

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