You can get seasick watching the price of Venezuelan jumbo lump go up and down over the last four months. However, we believe we have seen the last of the extreme prices until next Christmas. Production out of Lake Maracaibo has at least doubled in the last 30 days. Prices have dropped 30%, and it looks like they will continue dropping in the near future. This week, we are selling fresh Venz jumbo lump for $19.95 a pound. That is a fresh, jumbo lump with at least a 14-day shelf life and a sweeter flavor, for nine dollars less per pound than comparable pasteurized Indonesian jumbo lump. There is no aftertaste from the can like there is in pasteurized INDO.
Fresh Venz lump (HPP) is $11.50 a pound compared to Pasteurized Indonesian lump at $17 a pound.
With most economies around the world slowing down, we think the pasteurized market is out of touch with reality. We think there will be extreme pushback at current pasteurized price levels. Something has to give.
Prices are subject to change.