Florida stone crab landings are higher so far this season compared to last season, pushing prices down.
The season began Oct. 15 and runs through mid-May. “There is good production this year. Supply is definitely going to outweigh the demand,” said one supplier. Landings in South Florida are stronger than last year, while north Florida is slower because of bad weather.
“Supply is better from the Keys to Naples than it is north of Naples at present,” said one Florida official.
Stone crab landings for the 2011-2012 season are expected to end up near last season’s landings, which were around 2.6 million pounds. The 2010 stone crab dockside value was USD 23.7 million compared to a USD 17.7 million dockside value in 2009, according to the Florida Department of Agriculture and Consumer Services.
As a result of increased supply, prices are down compared to early in the 2010 season.
“Last year by this time, we had a couple of price increases because production wasn’t great,” said one supplier. This year, medium stone crab claws are wholesaling for USD 7.50 to USD 8 per pound, large are selling for USD 9 to USD 11 per pound and jumbos are USD 13.50 to USD 14.50 a pound, on average. “Prices opened down from last year,” added the state official.
However, stone crab prices are expected to strengthen closer to the holiday season. “Seventy-five percent of stone crabs are eaten by tourists coming to Florida. That starts by Christmas, and goes from the end of January through Easter,” said a supplier.
While stone crab is typically sold at fine-dining restaurants, people are eating out less because of the economy, say suppliers. As a result, suppliers are focusing more on retail sales than they had in the past.
“We are working with supermarkets across the country and putting on some promotions to keep crabs moving,” said a supplier. While stone crab claws are typically considered a higher-end product, shoppers are buying them for special meals. “If you compare it to other items — king crab is over USD 20 a pound right now — it is certainly reasonable to buy stone crab for USD 12 to USD 15 a pound,” said the supplier.
While the majority of stone crab is consumed in the United States, Florida stone crab suppliers are exporting small quantities to Japan and other countries. “We ship a little to Japan, but it is a very expensive crab when you look at all the crabs around the world. There is a lot of competition,” said a supplier.
“Domestic demand is generally strong enough to keep them here,” said the Florida official.
