Hi-Gear Seafood news for November/December, 2011

 

CRAB

After reaching what I believe is the highest ever ex-vessel price paid crab has become affordable once again. Demand from the Far East coupled with meagre crab yields in BC created a situation where the price was bordering on the ridiculous throughout September and into October. Our wholesale customers stuck with us through this tough period although we naturally saw volumes drop off. Thanks to them for being patient. On the retail end we concentrated on marketing culls as the price remained in the normal range and the customers were strangely reluctant to take a second mortgage to finance premium crab.

Now that China, Japan and Russia are harvesting their domestic Hairy crab, the need for North American crab has subsided. In addition the domestic market is soft in this post Thanksgiving, pre Christmas period. The upshot is that crab is back to traditional pricing and the feeling is that this may continue through to the end of the year. The Puget Sound fishery that opened October 1st also helped to draw prices down and anticipation of the US west coast effort this winter will help the domestic wholesale or retail consumer as well.

You can call Tim any time for your wholesale or retail crab requirements. Enjoy the better pricing while you can as it will most definitely start to escalate as we move into 2012.

LOBSTER

Lobster season has opened in parts of Atlantic Canada and we are once again offering fresh caughts in 1 and 1.25 pound sizes. This is a relief as the price was quite high in August and September and quality was starting to suffer as time wore on. The lobsters we received today were very nice and in fine fighting form. The price is very reasonable so give us a call and we`ll set you up.

Wholesale deliveries can be arranged in most cases for Southern Vancouver Island. As well we have a refrigerated truck going to the lower mainland each Thursday.