Norwegian king crab prices fall further due to increased competition from Russia

In week 24, the average price of live king crabs weighing 2.2-3.2 kg fell by 15% month-on-month to NOK 439.5 (USD 41.14) per kg, while the volume rose by 31% to 16,395 kg. For live male crabs weighing more than 3.2 kg, the price fell by 18% month-on-month to NOK 497.03 (USD 46.58) per kg, while the volume rose by 49% month-on-month to 8,902 kg. Prices of small female crabs of both sizes also fell. Quota reductions in Norway and the ban on Russian crabs in Europe and the United States led to a record high price in week 21. However, this trend failed to continue due to the US sanctions on Russian products that have been in place for more than two years. In June, fishermen found king crabs The price of king crab has dropped significantly compared to May, a trend driven by a number of factors, including an influx of blue crab from Russia, which is priced much lower than Norwegian red king crab. In addition, Russia has brought forward the start of the Barents Sea king crab season from ...