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Trade Tracker: King crab supply down
Russia imports wane, exports to Canada rise
January 01, 2014
King crab may not be the top-billing crab anymore, as over the past few years, imports have gradually decreased. In 2007, U.S. king crab imports totaled more than $375 million, but Russia’s efforts to curb illegal, unreported and unregulated fishing have slowed exports to the United States.
In 2012 the total value of king crab imports dropped to around $199 million. The total value of king crab imports from January to October 2013 was $156 million, $10 million less than the same time period in 2012. U.S. king crab exports peaked in 2010, when exporters sent $100 million worth overseas. Last year that number dropped to about $60 million and this year might be lower still. As of October, king crab exports were around $23 million but in the same time period in 2012 exports were more than $30 million.
The United States receives 78 percent of its king crab from Russia and this year it is the 20th-most popular commodity shipped from the country. King crab also comes from Argentina, which is responsible for about 15 percent of U.S. imports. Interestingly, last year the United States only received around $6,000 of king crab from Canada, but this year that number is already more than $1.5 million. As for U.S. exports, most of those go to Canada, Japan and Hong Kong. Canada consumes more than half of our king crab exports, and Japan and Hong Kong represent about 19 percent and 7 percent, respectively.
From Q1 to Q3 this year, the average price per kilogram of king crab imports has ranged from $13.84 to $15.71. The price has dropped significantly from 2012, when the average price ranged from $16.30 to $18.51. The average price per kilogram of exports has increased remarkably. In Q3 of 2013, the average export price was $27.35, but was only $14.35 during the same period in 2012. To review the remaining king crab data graphs, visit our digital edition.
Zepol Corporation is a Minnesota-based company working to provide the most complete and up-to-date U.S. trade data through our subscription tools. TradeIQ™ is a U.S. Customs import Bill of Lading database utilized to find information about competitors, suppliers, prospects, and the products that they use, market, or transport. TradeView™ provides U.S. Census data to visualize the U.S. import and export market. ComplianceMonitor™ is a comprehensive tool that proactively alerts users of essential U.S. import trade compliance information. For more information visit www.zepol.com.
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