Newport International Update

Author: Erika Eckley

Date: October 1, 2018

Pacific Cove & Jacks Catch Premium
(Portunus Pelagicus, blue swimming crab meat)

Supply is great.  We ran a tight ship during raising costs over the last year which allowed us to keep all new product on hand.  Prices have come down over the last couple months but looks to have stabilized due to the shortages in the red swimming crab.  The outcome on the remaining red swimming season will  decide pricing for the blue swimming.

 

Jacks Catch Select
(Portunus Haanii, red swimming crab)

There has been a void in the market for the past 5 months-ish.  This was due to bad landings and bad weather in China.  Of course, this caused prices to shoot up and remain high based on the questionable new season.  New season has already started and landings are already off 40% plus the new tariffs have played a role in higher costs.  Since Newport Intl controls 75% of the Chinese crab meat, we already have this product on the water and should be back in stock in the next couple weeks.  Again, it will be a crazy season on red.

 

Attached is the price list for October 2018.  This holiday season might get a bit tricky with pricing, here is a quick market recap:

Superior Foods Price List October 2018

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