Alaska red king crab supplies are so short this season that prices have soared to record highs.

Before the season started on 15 October, Japanese buyers contracted for an estimated 60 percent of the landings. The favorable yen-to-dollar ratio helped Japanese buyers acquire more product.

“The companies in Japan did very well last year with red king crab, so they came in this year with a positive attitude,” said one wholesaler.

In addition, other major king crab buyers have already contracted t