Canadian Snow Crabs Prices Decline While Season Starts

Snow crab market prices in Canada have steadily declined in the past three months due to high inventory and changes in consumer behavior. The US is coming out of a COVID lockdown, and travel measures are starting to loosen, with consumers facing record-high inflation and pricing fatigue due to high prices. There are more options to travel and enjoy leisurely activities, so consumers are less willing to spend a high premium on luxury seafood. The new snow crab season is still underway, and suppliers are closely monitoring the situation.