Exploring the Latest Trends in US Wholesale Seafood Pricing

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The State of Frozen Crab Pricing

According to Undercurrent News’ benchmark price assessment for week 14 of 2025 (March 31 – April 6), pricing for frozen crab species is heavily influenced by demand outweighing the limited supply from Norway. This dynamic has created a positive scenario for Canadian crab companies, as they were exempt from tariffs announced on April 2, unlike Norway, which faced a 15% tariff. The exemption means that goods qualifying under the United States–Mexico–Canada Agreement (USMCA) will not be subject to tariffs.

In February 2025, the US imported 10.4 million pounds of crab valued at $92.5 million, showing a slight decrease from the previous year’s 12.3 million pounds.

Market Trends for King Crab

Sellers are currently holding strong leverage in the market due to robust buyer demand, leading to stable to firm prices across various sizes of king crab. While there was a notable increase in the 9-12 count range last week, a slight retracement is expected this week. Norwegian-origin king crab remains the predominant product available in the market.

Developments in Snow Crab Fisheries

The Canadian snow crab fisheries are facing delays attributed to disputes over price setting and adverse weather conditions, delaying the start of the season. Consequently, Norwegian snow crab prices have remained stable to firm. There are hopes that negotiations for Newfoundland dock prices are nearing completion.

Insights on Crabmeat Imports

In February 2025, the US imported 4.9 million pounds of crabmeat, a slight increase from January 2025 but lower compared to the same period last year. This trend highlights the evolving dynamics of the crabmeat market.