Experts said that crabbers believe that an eager market will compete for reduced supplies of king crab this winter and that is likely to boost prices for fishermen. The crab fishers are on their way to the Bering Sea for the Oct. 15 start of king and Tanner crab fisheries. For Alaska’s largest king crab fishery in Bristol Bay, crabbers will drop pots for a total catch of 20.36 million pounds of red king crab, compared to 20.38 million pounds last year.
While U.S. king crab buyers might be tightening their belts due to the sluggish economy, but for Alaska’s No. 1 customer, Japan, it is different case. Market analyst Ken Talley of Seafood Trend, pointed out that the demand for Alaska king crab is strong in Japan and that should be reflected in higher prices. Imports of frozen crab into Japan through June dropped 27 percent from a year ago, and average wholesale prices increased by 41.5 percent on a per-pound basis.
It is said that Alaska crabbers have proposed an opening price of $5.15 a pound for red king crab. Fishermen receive a base price and then a final adjustment after the crab is sold. Alaska crabbers compete with Russia and Norway in world markets, and fishermen there also are negotiating for higher prices this year.
