Photo: FAO/FIS
Globefish report on the global crab market
WORLDWIDE
Thursday, July 18, 2024, 07:00 (GMT + 9)
The following is an excerpt from a report published by Globefish (FAO):
King crab supplies still low, snow crab supplies might tighten
Supplies of king crab are low, and western markets (especially the United States) are struggling from not being able to import product from the Russian Federation due to the ongoing ban. Snow crab supplies from Canada are expected to be lower in 2024 than in 2023, which could push prices up.
Supplies
The North Pacific Fishery Management Council (NPFMC) in February 2024 considered conservation measures with regard to both red king crab (Paralithodes camtschaticus) and Tanner crab (Chionoecetes bairdi) in Bristol Bay and the coast of Kodiak Island. Last October, the Bristol Bay red king crab fishery opened for the first time since the 2020/21 season, with a total allowable catch (TAC) of 2.2 million pounds (998 tonnes).
However, biologists have warned that the stock is vulnerable, and recruitment has remained low. Even so, NPFMC did not expand the protection measures.
The TAC for red king crab in Alaska has been set at 975 tonnes plus 2,508 tonnes of golden king crab (Lithodes aequispinus) in the Bering Sea. In Norway, the king crab quota has been reduced by 59 percent from 2,375 tonnes in 2023 to just 1 026 tonnes in 2024 (966 tonnes for male crabs and 60 tonnes for female crabs).
In addition to these quotas, the Russian Federation quotas for 2024 have been set at 104,229 tonnes. Of this, some 38 000 tonnes are for king crab and about 66,000 tonnes snow crab.
Canada’s Department of Fisheries and Oceans (DFO) announced at the end of March that the TAC for the snow crab fishery in Newfoundland and Labrador had been set at 57,568 tonnes, which is an increase of 5.2 percent compared to the 2023 TAC. However, the TAC for the Southern Gulf of St. Lawrence was earlier set at 26,127 tonnes, a reduction of 27 percent compared to 2023. Thus, there will be less snow crab coming out of Eastern Canada in 2024.
While the short-term outlook for the snow crab fishery around Newfoundland and Labrador is good, the longer-term prospects are less certain. Scientists are worried about the effects of warmer seawater temperatures and less sea ice. As cold water is important for the survival of juvenile crab, the cover provided by winter sea ice is essential for a good habitat.
The outlook for the Tanner crab fishery in Kodiak, Alaska, is good. The guideline harvest level (GHL) for this year’s fishery is set at three million pounds (1 361 tonnes), which is the second highest level for decades.
The Norwegian snow crab quota for 2024 on the Norwegian continental shelf is set at 10,300 tonnes.
The supply situation for snow crab tightened at the beginning of 2024.
Canadian supplies were drying up, and the new season was still months away. With such low supplies, some buyers turned to Dungeness crab as a substitute.
During the first three months of the winter season (November 2023–January 2024), crab harvesters in California, Oregon and Washington landed 10,202 tonnes of Dungeness crab. This was 11 percent more than what was landed during the same period in the previous season. Landings of Dungeness crab have fluctuated in recent years; but since 2021, catches have increased. Combined landings in the four States on the US west coast (California, Oregon, Washington and Alaska) amounted to 17,235 tonnes in 2021, 23,878 tonnes in 2022, and 35,982 tonnes in 2023. Expectations for 2024 are good.
Market
King crab supplies on the US market became scarce in 2023 and with the US ban on imports of seafood, new supplies have to be found elsewhere. At the same time, king crab inventories are almost depleted, so established markets such as China and the Republic of Korea, will have to compete with other countries for supplies from other sources.
Prices for Norwegian king crab soared in the beginning of 2024, for several reasons. First of all, the weather was bad, and consequently, landings were low. Second, the western countries’ ban on product tightened the supply situation on their markets; and third, demand leading up to Chinese New Year in February was very strong.

International trade
Global crab imports showed a modest increase from 431,052 tonnes in 2022 to 460,814 tonnes in 2023, up 6.9 percent. China surpassed the United States as the largest importer, and accounted for 119,171 tonnes, an increase of 28.4 percent over 2022. Japan also showed a notable rise in imports, up by 19 percent to 35,340 tonnes. In contrast, US imports of crab (all types) rose by only 2.8 percent and amounted to 112,212 tonnes.
There was a strong increase in US imports from Canada, by 27.2 percent to 64,067 tonnes in 2023 as compared to the previous year. Imports from Indonesia went down by 5.3 percent and imports from China showed only a slight increase of 1.9 percent.

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There was a massive increase in Chinese imports from the Russian Federation: +73.9 percent to 41 135 tonnes, and from Canada: +31.5 percent to 15,089 tonnes. Meanwhile, China’s crab exports went up by 7.6 percen to 46,809 tonnes. Of this, 16 649 tonnes went to the Republic of Korea (35.6 percent of the total), 8,449 tonnes to Malaysia (18 percent of the total) and 6,930 tonnes to Japan (14.8 percent of the total).
Russian exports of crab increased from 72,452 tonnes in 2022 to 90,675 tonnes in 2023, up 25.2 percent. Of this, 45.4 percent went to China (41,135 tonnes, up 73.9 percent), 27.4 percent to the Republic of Korea (24,853 tonnes; up 33.1 percent), and 19.8 percent to Japan (17,933 tonnes; up 25.3 percent).

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US imports of swimming crabs (blue and red) fell by five percent from 27 615 tonnes in 2022 to 26 117 tonnes in 2023. As price levels also went down, the value of US imports went from USD 775.2 million in 2022 to USD 600.8 million in 2023. The largest suppliers of this species were Indonesia (11,082 tonnes), Venezuela (3,287 tonnes) and Viet Nam (2,803 tonnes).

Because of the sanctions on imports of seafood from the Russian Federation, crab exporters have had to search for new markets, and prices for Russian king crab dropped by some 60 percent at the end of 2023. Japanese importers were quick to take advantage of this opportunity. While the US import ban on Russian products is practically total, Japan’s sanctions against the Russian Federation are much milder. Japan removed Russia’s “most favoured nation” status in April 2022, but did not ban imports from the country

Outlook
Global supplies of king crab continue to be low, and prices high. This is not going to change until late April, when the new season starts. Supplies of snow crab from North America will be slightly lower in 2024 than in 2023, but prices have dropped. The short-term outlook for the Canadian snow crab fishery is good, but the longer-term outlook is much more uncertain, mainly due to expected environmental changes. Higher water temperatures and less sea ice may be detrimental to juvenile crabs.
Russian crab supplies are expected to be very good in 2024 but exports will have to be directed towards Asian markets. Demand on the Chinese market is good and expected to continue to grow. Prices for king crab will stay high.
Source: FOA-Globefish
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