Fresh seafood display

The Great Seafood Pricing Reset of 2023

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During 2021, as everyone knows, seafood commodity pricing soared. With $3 trillion directly injected into the US economy, we saw some seafood items reach prices that were double or triple their all-time highs. Last year, and especially this year, the vast majority of seafood commodities have returned to, or even fallen below, their pre-pandemic levels. From snow crab to fresh crabmeat, from scallops to Atlantic salmon, seafood, in general, is inexpensive, especially when compared to beef. With seafood being a classic example of the law of supply and demand, are we witnessing a slowdown in the overall economy or are the American consumers simply changing their spending habits? I guess only time will tell.