Figure 3b
US Snow Crab Supply and Price — Four Market Periods
Total US Imports by Pack Year with UB NL 5-8 oz Price (Nominal & Real 2024-25$)
2009-10 through 2025-26 • Shaded periods highlight distinct supply-price regimes
Canada
Russia
Norway
Greenland
Nominal $/lb
Real $/lb (2024-25$)
Recovery & Absorption
Demand-Driven Price Rise
Pandemic Boom & Crash
Post-Crash Recovery
Four regimes define the modern snow crab market. The 2009–2014 recovery absorbed a 20% supply increase without depressing prices, signaling structural demand growth. From 2015–2019, supply held steady while prices nearly doubled — a demand-driven premium era. The pandemic produced a historic spike ($18.41 real in 2021-22) followed by an equally historic crash ($5.66 real in 2023-24). Since mid-2023, prices have recovered 31% on stable volume — a pattern that echoes the 2009–2014 demand-led recovery. The question for 2026: quota cuts may push prices above what this demand recovery can support.
Source: Seafood Datasearch from US Census Bureau via Global Trade Tracker (volume by country) and Urner Barry (NL 5-8 oz Cluster EBP, 2015-present; customs avg unit price pre-2015) • Deflator: CPI-U All Items, NSA (BLS Series CUUR0000SA0), base = 2024-25 • Pack year = April through March • * 2025-26: 9 months data, country split estimated