SEAFOOD.COM NEWS by John Sackton — October 25, 2013 — The high price of domestic scallops is leading to a surge in scallop imports this year. In August, total imports of scallops were up 250% over the 2012 monthly volume. So far this year, scallop imports have been running about 70% ahead of 2012.
China has increased 60%, Japan by 23%, Argentina by 145%, Peru by 352% and Canada by 33% – all import numbers through August compared to their prior year to date totals.
Although there has not been a significant decline in China Bay prices, it seems like Peruvian scallop prices are coming down, based on the surge in volumes.
Source: Urner Barry Foreign Trade Data
US scallop imports surged in August, especially from China and Peru.
Source: Urner Barry Foreign Trade Data
Prices for Peruvian scallops, based on import declarations, fell in August, as volume spiked. Peru scallop exporters are also seeing some weakening of their prices in France.
Source: Urner Barry Foreign Trade Data
In additon to Peru, Chinese scallop exports are up very much this year, but prices for China Bays have been steady.
This story originally appeared on Seafood.com, a subscription site. It is reprinted with permission.