The price of fresh Venezuelan Jumbo lump bounced hard off the bottom last week. After months of steady price declines, the producers are eager to push prices back to sustainable levels. The picking plants around Lake Maracaibo have resumed production after Easter. Crab landings at the beaches are down, but the bigger problem is space on airplanes.
It is only a 2.5-hour flight from Maracaibo to Miami, but current US policy does not allow direct flights from Venezuela. Planes must land in Panama or Columbia first, adding to the freight cost. Many shipments of crabmeat are stuck in Panama, awaiting connecting flights to Miami. Flower shipments for Mother’s Day pay higher airfreight costs and therefore take priority space over crabmeat. The market is starved for meat the week before Mother’s Day. Prices are up significantly. We will start this week just under $21 a pound on jumbo, still a bargain compared to other crabmeat. Full Newsletter
Prices are subject to change.