Scallop Market Alert!

By November 4, 2021 Seafood

From the Bluefin Seafood Team:

I’m sure you’re all experiencing pricing increases on everything in your establishment. Labor, fuel and supply chain issues have all contributed to the increases. Hopefully you are adjusting and making changes as they happen.

Message from the dock of our scallop supplier:

“In what seems to be a trend across all facets of our industry, pricing for raw materials continues to climb at a drastic pace. It has become very difficult to increase pricing gradually as there doesn’t seem to be a plateau in pricing. With the demand for scallops still being high and “days at sea” being limited, companies are stock piling product in an attempt to carry one’s customers through the winter. The fear of running out is the driving force behind these increases. As I’ve said numerous times in the past, running out is not an option for us. We will always have product to offer our customers and are sure to ALWAYS secure the highest quality product available to us but unfortunately must secure product at these high numbers.”

There is also talk of the number of days at sea and quotas being cut more in 2022. A lot of the smaller boats tried taking advantage of the higher prices and have already maximized their days at sea. The new count doesn’t start until May. Many scallop suppliers also loaded up on their frozen and have sold them out with the fresh prices so high. Now they’re trying to restock and having the same issues as everyone else.

I hope this helps explain some of what’s going on. We’re all making less at these higher prices and just trying to keep it going.