Seafood prices at US retail continued to deflate in June 2024, but shoppers are still buying less

Published 2024년 7월 17일

Tridge summary

Seafood prices in the U.S. have been on a downward trend in 2024, with a 1 percent decrease from the previous year and a 0.7 percent drop from May 2024, as reported by the U.S. Bureau of Labor Statistics. Despite this, consumer demand for seafood has seen a decline, with sales of fresh and frozen seafood products decreasing in June 2024. However, there were exceptions in the sales trends of specific seafood species and types, such as fresh cod, catfish, and frozen pollock, which experienced increases in sales, while higher-priced shellfish like crab, lobster, and shrimp saw decreases. This mixed performance highlights the shifting preferences and economic factors influencing seafood sales in the U.S. market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Seafood prices across U.S. grocery stores have been falling for most of 2024, but American consumers continue to buy fewer products in the category.Seafood prices dropped 1 percent year over year in June 2024, and 0.7 percent from May 2024, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index.By category, frozen seafood prices dropped 4.5 percent year over year in June, according to data analytics firms Circana and 210 Analytics. Shelf-stable seafood prices declined 2.6 percent, while fresh seafood prices declined 0.7 percent.Despite the price drops, fresh seafood sales dipped 3 percent in June to USD 666 million (EUR 609 million), while sales by weight fell 2.3 percent. Frozen seafood sales by value also declined 3.8 percent to USD 606 million (EUR 554 million), but sales by weight rose a slight 0.8 percent.Shelf-stable seafood sales by value, meanwhile, rose 3 percent to USD 257 million (EUR 235 million) in June, with sales measured in pounds jumping 5.7 ...

Source: Seafoodsource