Prices on red king crab are surging in week 6 of 2025 (Feb. 3-9), according to Undercurrent News' assessment published on Wednesday (Feb. 5). Snow crab prices have also moved, based upon origin.
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On Mondays, we preview the week ahead with market pulses;
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There is virtually no inventory of North American king crab in the market and demand for product is robust. Norway has stepped up to fill the need, but supply is also tight. White tablecloth restaurants are fighting for available product and bidding up prices significantly this week. It appears price point is not a stumbling block.
Snow crab
There are also supply challenges facing the snow crab market. There were no changes to Newfoundland and Gulf pricing, and inventories are limited. Product is moving well within listed levels. There are indications there will be further quota cuts that could impact 2025 supply levels.
Norwegian product has seen a higher trend in 5-8 oz and 8-oz-and-up clusters, and is seeing shifting demand.
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