EP 273 | AIRED 02/29/2016

Dungeness Crab Closures Tighten Market Pricing, Buyers to Seek Alternatives

February 29, 2016 - Welcome to The Tradex Foods "3-Minute Market Insight This is Robert Reierson and here is the seafood news for the week of February 29th, 2016.

Subscribe to our 3-Minute Market Insight

--- Last week the California Department of Fish and Wildlife announced the continued closure of the Dungeness Crab fishery. The northern california harvests typically begin November 15th and set the pace for the entire West Coast. We spoke with Jordan Traverso, the Deputy Director of Communications at the CDFW, giving some insight on the closure. Jordan advised that the levels of the neurotoxin "domoic acid" are beginning to dissipate, but they cannot draw arbitrary lines in the ocean. El Nino has caused the normal algae blooms to stick around past November, causing the FIRST closure of this kind in known history in California. This is a big blow to the Californian fishermen, pushing market buyers to seek alternaives from Canada, Washington, and Oregon. --- Our TradexLIVE offer of the week is for Whole, Cooked Dungeness Crab. These are 1.5-2lb, banded, and available in Seattle for $6.60 / LB. Click or tap the icon above to view this offer. --- We caught up with Hugh Link, the Director of the Oregon Dungeness Crab Commission to discuss how the closures along the coast have affected the Oregon Fishery. {title overlay: HOW HAVE FISHERY CLOSURES FOR DOMOIC ACID AFFECTED OREGON} [Hugh: 1:30 - 2:16] {title overlay: DOCKS PRICING OPENED AT $2.90 / LB, WHERE HAS THE MARKET GONE SINCE?} [Hugh: 3:15 - 3:45} {title overlay: WHAT ARE YOUR CRYSTAL BALL HARVEST PREDICTIONS FOR 2016?} [Hugh: 4:24 - 4:38] --- As we heard from Hugh, docks pricing began at $2.90 / lb, which was the second highest opener to date. With limited supply, prices for Whole, cooked Dungeness Crab have been strong. 2-2.5lb cooked Dungies are at $7.60/lb, while Sections are going for $9.75 / LB in Seattle. With the market rising, buyers will begin to seek alternatives like Snow crab or small King crab. ----Thank you for joining us for the Tradex Foods "3-Minute Market Insight" This is Robert Reierson - “BUY SMART” and “EAT MORE SEAFOOD

If you have a topic you'd like to hear on upcoming 3-Minute Market Insights, tweet us on Twitter @TradexFoods

Subscribe to our 3-Minute Market Insight