Pasteurized producers are taking advantage of the break in fresh Venezuelan production and gaining market share in our area. Pasteurized jumbo lump pricing dropped again this week, now in the low $20’s.
The stage is being set for an ugly price war when Venezuela starts shipping again in the third week of October. As they do every year, they pick and ship large amounts of fresh crab meat into Miami right from the start. With late October and November being some of the year’s slowest months, the market floods quickly, and prices soon collapse.
If you want to run a crab cake promotion in November, we would not be surprised if your plate cost for an all-jumbo lump crab cake could approach $4 each for a portion. You can pretty much bank on the fact that your cost will not exceed $5 when production resumes in late October.
Prices are subject to change.