United States: The limited availability of Alaska red king crab gives it a dominant market position

Published 2023년 12월 14일

Tridge summary

This year's Bristol Bay commercial red king crab season had a smaller quota but high demand led to more than 99% of the quota being caught. Despite a smaller allowable catch, the season was welcomed by fishermen in the region, who have faced financial difficulties due to closures in other crab fisheries and a challenging salmon season. With processors paying around $8.00 per pound for king crab, the industry is benefiting from a resilient U.S. economy and a ban on Russian king crab imports, resulting in a premium in the market.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This year’s quota for Alaska’s Bristol Bay commercial red king crab season was smaller than usual, but fishermen are reaping the reward of high demand in the lead-up to the holidays.More than 99 percent of the 2.1-milllion-pound quota has already been caught by 31 vessels, according to KUCB. Alaska Department of Fish and Game Area Management Biologist Ethan Nichols said while the total allowable catch was less than half of the 2018-2019 season, it was still welcomed by the region’s fishermen. Bristol Bay struggled with a financially difficult salmon season this past summer, the Bering Sea snow crab fishery remains closed for a second straight year, and Southeast Alaska’s red and blue king crab fisheries have been closed since 2017. “The red king crab and tanner fisheries are obviously small this year, but I think they're really important for helping the industry stay afloat through these years where we haven't had a snow crab fishery, which is really the bread and butter for the ...

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