Atlantic Canada snow crab sales slowed to a crawl in 2022 according to latest export data
In 2021 crab fishing crews landed just over 39,000 metric tonnes. With an average price of $7.36 per pound the landed value that season was $623 million. There were expectations that N.L. harvesters might land a billion dollars’ worth of crab in 2022, thanks to record high prices of $7.60 at the start of the season, and DFO’s decision to increase the overall quota by 32 percent. However, global financial uncertainty precipitated by the Russian invasion of Ukraine, the end of virus economic stimulus packages in the United States and rising interest rates, lead to consumers scratching high priced seafood from their grocery lists. Just over a month into the season snow crab prices plummeted. >click to read< 12:37
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