Soaring crab prices leave Newfoundland and Labrador harvesters out in the cold

On July 3, Ocean Choice International frozen snow crab sold at Sam’s Club in Orlando, Fla., for $16.60/lb US, or $20.41 CAD. That works out to a 171 per cent mark up from the most recent $7.53/lb price paid to Newfoundland and Labrador inshore harvesters for the snow crab they land. Let there be no doubt, the 2021 price paid to harvesters for snow crab is fantastic, the highest it’s ever been, but the question that must be asked is whether it amounts to a reasonable sharing of market returns? >click to read< 09:55

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