ANALYSIS: Scallop Market Dynamics and Net Supply Decline
The scallop market has experienced significant shifts in landings, imports, exports, and market dynamics over the past year, impacting both domestic and international trade. Recent consecutive years have been riddled with fallen quota announcements while sustained high prices have greatly impacted demand resulting in an anomaly of market action; less availability concurrently with price discounts.
Landings from April 2023 through January 2024 totaled 21.64 million pounds, 13.7 percent below the same 2022 to 2023 timeframe and 39.5 percent below the previous five-year...
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