Live King Crab Markets in South Korea as of January 31st, 2024

Innova Seafood
2024-01-31 13:09

- Only one king crab boat (45 tons) arrived this week resulting in an ongoing shortage of live snow crab.

- Despite the high demand ahead of the Lunar New Year holidays (January 9th-January 12th), there is a sustained shortage in supply from Russia, causing wholesale prices received by major import companies to significantly rise this week.

- At Seoul's Noryangjin retail Market, 2-3kg blue king crab was traded at approximately 93,000 KR₩ (=US$ 70.5) per kilogram, red king crab at 95,000 KR₩ (US$ 72.0), and snow crab weighing over 1kg at around 68,000 (US$ 51.5) won per kilogram.

- About four live boats are expected to enter into Korean port this week.

- Due to molting concerns, the supply from Norway has practically come to a halt.

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