Monday, June 9, 2014

Imported crab meat hits record prices

What was once a low-cost alternative to blue crabs from Chesapeake Bay and other parts of the US has reached record prices. Jumbo lump from the blue swimmer crab (scientific name Portunus pelagicus) has risen to $25 a pound. Blue swimmer crabs live in the Pacific Ocean and are harvested in countries including Indonesia, Thailand, and the Philippines. In this article from Undercurrent News (an seafood industry publication), the price increase is attributed to reduced supply, an increase in global demand, and issues with fishery sustainability. Time will tell whether this truly is a one-time perfect storm causing high prices or whether global demand is finally catching up with supply.

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