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...

Everything You Need To Know About Alaska’s Red King Crab Fishery In 2024

There are a lot of questions surrounding Alaska’s lucrative red king crab fishery. And because there are four stocks, news of closures or openings can become confusing.

The fishery is managed by NOAA Fisheries, the North Pacific Fishery Management Council, and the Alaska Department of Fish and Game (ADF&G). Management is based on the size, sex, and the season, meaning that only male crabs of a certain size can be harvested, and that fishing can not take place during mating and...

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...

Blue Star Foods Renew License For Soft Shell Crab Operations in South Carolina 

Blue Star Foods Corp. confirmed on Wednesday that they have received a license renewal from the South Carolina Department of Natural Resources for their soft-shell crab operations in South Carolina.

The company had acquired assets of Recirculatory Aquaculture Systems (RAS) crab company Gault Seafoods back in December 2021, and by February 2022 launched their RAS soft-shell crab operations. This past July Blue Star received an option from Beaufort County, South Carolina, to purchase land for its RAS expansion...

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...

H1 Russian Crab Imports by Japan, China, and Korea up 60%

Due to the U.S. embargo on Russian marine products, imports of Russian crabs (in live-weight equivalent) to the three countries of Japan, China, and South Korea in the first half of the year increased 63% (approximately 18,000 tons) year-on-year to approximately 47,000 tons. The United States did not import from Russia in the first half of the year, but the import increase into Japan, China, and South Korea in the first half accounted for 97% of the decline in U.S. imports.

The United States had the...

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...

Aquamar Debuts ‘Innovative’ Seafood Tenders Product Line

Move over, chicken tenders.

Aquamar unveiled its latest innovation with its ready-to-eat Seafood Tenders. The Seafood Tenders are wild-caught and available in four varieties: smoked salmon, cod, crab, and smoked haddock.

“With the launch of this approachable line of premium, ready-to-eat Seafood Tenders, Aquamar is giving seafood lovers what they want – delicious, healthy protein that is affordable and can be easily prepared and enjoyed at home,” the company wrote in a press release.

Aquamar said the products are a perfect protein add-on for any dish...

Russia to Face Lack of Crab Catchers Due to Issue With Funds

The construction of fish trawlers, including crab fishing vessels in the Far East, may be under a serious threat due to lack of funds in the Russian state budget to cover the construction costs.  

According to some Russian media reports, there was not enough money in the budget this year to pay a subsidy that compensates for 20% of the cost of building ships at Far Eastern shipyards. 

At the same time, at the beginning of the year, the office of the Russian presidential envoy to the...

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...

Pacific Seafood Issues Statement on California Dungeness Crab Lawsuit

In March 2023 a class action lawsuit was filed by a fisherman named Brand Little of Auburn, California, who accused Portland-based seafood processor Pacific Seafood of price fixing. 

In the lawsuit, Little said that Pacific Seafood had been fixing the prices paid to Dungeness crab harvesters “for at least the last four years, and likely substantially longer.” Little claimed that the seafood company’s actions resulted in harvesters earning “dramatically reduced” money, in addition to pricing the product out of customers during peak demand periods. In addition, the lawsuit...

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...

ANALYSIS: Crab Meat Imports Rise Above 3-year Average for First Time in 10 Months

The crab meat market complex continues into July full steady to firm. The market is currently adjusting higher on most grades with the pace of strengthening quickest on the largest grades, colossal, jumbo lump, and super lump, which moved higher first week in July.  

When looking at price quotations for jumbo lump, the market is currently 9.4 percent higher than the 5-year average. In comparison to last year, however, the current market for blue jumbo lump meat is 6.5 percent lower...

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...

Russian Government Tightens Pressure on Domestic Fisheries Sector

A new flexible export duty on fish and fish products, that will be officially imposed in Russia on October 1 will increase financial pressure on the country’s fish sector and lead to the growth of costs of local fishermen.

According to recent calculations of German Zverev, head of the All-Russian Association of Fish Producers, the rate of duty will vary in the range of 4-7%, depending on the product. Its overall financial impact on the industry is estimated at RUB 10-12 billion...

Canadian Court Fines 4 Vessel Masters After Boundary Bay Crab Fleet Investigation

An investigation into the Boundary Bay commercial crab fleet by Fisheries and Oceans Canada (DFO) fishery officers has resulted in the Surrey Provincial Court issuing fines to four vessel masters.

Viet Dam, the master of the Pacific Falcon, was the first to plead guilty to illegal fishing in U.S. waters and fishing more traps than allowed under his license. Dam pleaded guilty to the accusations, which date back to 2019, on June 23, 2023. He was fined $38,000 and forfeited 83 traps...

Hairy Crab Promoted During JD.com’s 2nd Annual Harvest Carnival and Shopping Festival

On September 1 China’s major shopping platform, JD.com, kicked off their second annual Harvest Carnival and Shopping Festival of Agricultural Specialties. The event was created to connect consumers with “exceptional farm-fresh goods from across 2,000 industrial belt zones across China, all while ensuring rapid delivery and optimal freshness.” And hairy crabs from Sugian were just one of the seafood items promoted during this event.

Hairy crabs caught the attention of many last year during JD.com’s first annual Harvest Carnival and Shopping Festival...

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: Crab Meat: A Few Things to Watch

Through most of 2023, the crab meat market has seen imports well below the 3-year average. But as of June 2023, and somewhat in May of 2023, we are starting to see that trend shift.

With months of an active or high demand for product, it looks as though imports may be starting to catch up as levels start to climb above the 3-year average. Due to the lag time between where blue and red swimming crab meat is caught and...

Russian State Budget to Attract $3.61 Billion from Crab Auctions This Year

The Russian state budget will allocate up to 340 billion rubles (US$3,61 billion) from crab auctions, which will be part of a second stage of investment quotas’ distribution, according to recent statements, made by representatives of the Russian Federal Agency of Fisheries (Rosrybolovstvo) and some local media reports.

According to the head of Rosrybolovstvo Ilya Shestakov, so far, special by-laws have been issued for the second stage of the investment quota program and crab auctions.

Ilya Shestakov commented...

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...

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?

Dollar General Expands Private Label Brand By Adding Frozen Seafood Items

Dollar General is continuing to evolve and expand. And the latest expansion includes new frozen seafood items through their private label brand, Clover Valley.

“When Dollar General pioneered the ‘dollar store’ format in 1955, few food products were offered,” explained Jackie Li, senior vice president of private brands and global sourcing. “With continual growth and changes to the Company’s business model, our product selection has evolved. Customers shared that they believe in the quality and equity of Clover Valley and were receptive to more innovative products...

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...

Russian Anti-Trust Regulator Warn About Risks of Monopolization of Domestic Fisheries’ Sector

The redistribution of quotas for the catch of crab and certain types of fish during tenders as part of the second stage of investment program in the Russian fisheries sector may lead to "prevention, restriction and elimination of competition in the industry," according to recent statements of representatives of the Russian anti-trust regulator – the Federal Antimonopoly Service (FAS).

As part of the second stage of quota distribution, there are plans to redistribute 50% of all rights to catch crab and...

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...

Russia Plans a Further Expansion of Geography of Sales of its Crab in Years to Come 

Russia plans a further expansion of the geography of sales of its crab in years to come, according to recent statements made by the head of Russian Rosrybolovstvo Ilya Shestakov.  

According to him, most revenue in the crab market is currently associated with the exports of live crab. However, part of the state plans is increasing exports of frozen crab, primarily to China.  

In the meantime, in addition to China, the growth of supplies are also planned to other countries of...