As of January 2024, the seafood market, particularly focusing on frozen scallops, presents intriguing price dynamics in the United States. Sourced from reliable market data by SELINAWAMUCII, this comprehensive analysis delves into the current state of frozen scallops cost per pound, along with historical trends and future predictions that shape the industry.、
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Current Retail Prices of Frozen Scallops
The retail landscape for frozen scallops in the US as of early 2024 shows a varied price range. Consumers can expect to find frozen scallops costing between $17.20 and $35.35 per kilogram. When broken down per pound, the price ranges from $7.80 to $16.03. These figures reflect the diverse market offerings, catering to different quality and size preferences among consumers. Notably, the price varies slightly in key urban markets like Washington and New York, with the scallops price per pound in Euros ranging from EUR 7.16 to EUR 14.71.
Wholesale Price Insights
Shifting the focus to the wholesale domain, the frozen scallops cost per pound reveals an interesting economic scale. In 2024, wholesale prices for US scallops are averaging between $12.04 and $24.75 per kilogram, which translates to $5.46 to $11.22 per pound. This price bracket is significantly lower than retail prices, underscoring the economies of scale in wholesale trading and the potential margins for retailers.
Historical Trends and Predictions in Export Prices
The export price history of US scallops unveils a fluctuating market. Over the last five years, the export price per kilogram of scallops experienced notable variations. In 2016, scallops reached their peak price of $82.13 per kilogram, followed by a decrease to $72.57 per kilogram in 2015. The years 2011 to 2014 saw a stabilization at around $14.50 per kilogram. Interestingly, the last couple of years have seen a gradual increase, with the latest figure hitting $19.30 per kilogram in 2022. Moving forward, predictions suggest a continued upward trajectory, estimating around $20.00 per kilogram in 2023 and slightly higher at $20.50 per kilogram in 2024.
Import Price Trends and Forecasts
On the import front, the US has witnessed a significant rise in the price of scallops. The year 2015 marked a substantial jump to $72.57 per kilogram from $14.57 the previous year. This uptrend continued into 2016, reaching a high of $82.13 per kilogram. However, a noticeable dip occurred in 2017, dropping to $17.90 per kilogram, followed by marginal increases in subsequent years. The import price fluctuated, decreasing in 2020 to $17.55 per kilogram, then rising again in 2021 and 2022 to $19.17 and $19.30 per kilogram, respectively. Looking ahead, the trend suggests a gradual increase, with predicted prices of around $19.50 per kilogram in 2023 and approximately $19.70 per kilogram in 2024.
The US market for frozen scallops, both in retail and wholesale sectors, exhibits a dynamic pricing structure. Understanding these trends and predictions is crucial for stakeholders, from seafood merchants and restaurateurs to end consumers, ensuring informed decisions in purchasing and selling. The frozen scallops cost per pound is more than just a figure; it’s a reflection of market forces, quality considerations, and economic factors that collectively define the seafood industry’s landscape.
