February 21, 2o23 — When you hear about a “market correction,” here it is in a dramatic display: a plunge of two-thirds or more in the price of Washington Dungeness crab.
There are plenty of reasons why.
One is that you, the consumer, are willing to pay only so much for what one industry insider says “is probably looked at like a luxury item.” Well, time to party on, consumers.
“They’re really loving it. They’re super happy that they can get an awesome product,” says Michael Fodness, meat and seafood director for the six-store, locally owned Town & Country Markets.
Those stores are charging $5.99 to $7.98 per pound for Dungeness, but the higher price is for “premium 2-ups,” meaning each crab weighs at least 2 pounds, with a higher meat-to-shell ratio.