CAMBRIDGE, Md. - Some Maryland seafood businesses are reporting a noticeable drop in crab sales, raising questions about how prices could be impacted heading into the summer season.
A bushel—or even a half bushel—of crabs can range in price from $100 to $250, depending on the size and market conditions. But some business owners say prices haven’t shifted dramatically from last year.
Bruce Cole, owner of Cole's Seafood, says that while his pricing has remained relatively stable, customer behavior is starting to shift.
"It's been average, I'd say. I do see a lot more buying with credit cards, less cash, you know, it tells me people's money is a little tight. And I'll look for the market to be a little tight later on in the year," said Cole.
The same pattern is showing up at Choptank River Crab and Oyster Company. Owner Mason Little says he’s had to get creative to move product during slower times.
"Actually, we do a Monday or Tuesday crab sale just to help get rid of them. Sales are always light after a holiday. But it seems like right now, at least the past year, you can only give a crab away in the weekend and then after that we're selling them cheap," said Little.
This trend comes as the Maryland Department of Natural Resources reports some of the lowest blue crab population numbers in recent history—typically a sign that prices may rise due to lower supply.
However, Cole believes the real determining factor is demand, not just availability.
"I don't think people are going to have the money to spend on crabs. You know, crabs is a luxury. So I look for the market being tight and price to be cheap. I hope not. That's my opinion. But yeah, I hope I'm wrong," he said.
Despite fewer crabs in the bay, prices may still dip if demand continues to lag—an unusual shift in a market where scarcity often drives costs up.