Panic is never a good thing in the seafood business, but that is exactly what’s happening in Miami this week – full-on crabmeat-selling panic mode. The crab catch in Lake Maracaibo has suddenly skyrocketed. Tens of thousands of pounds of meat are arriving in Miami several times each week. The market is unable to absorb all this production, so the price is in freefall. With the Indo pasteurized jumbo lump market currently double the Venz price at $29.95/lb, the savings add up quickly with any volume. Based on last year’s numbers, we expect the fresh Venz market to remain depressed through the end of April. Most likely, it will rise for Mother’s Day, but we don’t anticipate anything dramatic.
Prices are subject to change