After the Venezuelan jumbo market cratered a couple of weeks ago, the picking houses around Lake Maracaibo have figured out that there is a limit to the amount of crab meat the US market can absorb on a weekly basis. They have cut back on their production and we are seeing the market rise over the last two weeks. Demand for crabmeat is growing weekly.
The good news is that they still have tons of crabs in the lake. The producers don’t want to raise the price drastically as that will curb demand. Let’s hope we can reach a “demand/supply equilibrium” around the $ 20-a-pound mark.
Prices are subject to change