Scallop prices stabilizing as supply shrinks

Scallops being cooked.

U.S. scallop prices are stabilizing after a period of decline that saw them drop from USD 23 (EUR 21) per pound at the end of 2021 to just over USD 13 (EUR 12) per pound in August 2022.

Speaking at the National Fisheries Institute’s 2023 Global Seafood Market Conference in La Quinta, California, U.S.A. on 17 January, Clearwater Seafood Vice President of Sales Robert O’Sullivan and Raw Seafood Vice President of Sales Kane Kendall agreed scallop prices have rebounded from the drop they suffered in 2022.

“There was no inventory. Everybody was spending money like crazy. As quickly as we were putting up scallops, they were gone,”  O’Sullivan said. “But post-Covid, that price wasn't sustainable. The demand wasn't there. So we started seeing prices taper off as we went through heavy fishing. And then once we hit winter months, there has been a stabilization, especially on the 10/20 category.”

Kendall said more buyers may be ... 

Photo courtesy of Rosalie.S.Photo/Shutterstock

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