Seafood prices across U.S. grocery stores have been falling for most of 2024, but American consumers continue to buy fewer products in the category.
Seafood prices dropped 1 percent year over year in June 2024, and 0.7 percent from May 2024, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index.
By category, frozen seafood prices dropped 4.5 percent year over year in June, according to data analytics firms Circana and 210 Analytics. Shelf-stable seafood prices declined 2.6 percent, while fresh seafood prices declined 0.7 percent.
Despite the price drops, fresh seafood sales dipped 3 percent in June to USD 666 million (EUR 609 million), while sales by weight fell 2.3 percent. Frozen seafood sales by value also declined 3.8 percent to USD 606 million (EUR 554 million), but sales by weight rose a slight 0.8 percent.
Shelf-stable seafood sales by value, meanwhile, rose 3 percent to USD 257 million (EUR 235 million) in June, with sales measured in pounds jumping 5.7 percent.
By species, fresh cod sales rose 7.6 percent, while sales by weight hiked up 11.5 percent. Fresh catfish sales also rose – 0.2 percent by value and 5.5 percent by pounds.
Sales of most higher-priced shellfish items declined in June. Crab sales dropped significantly – 15.6 percent by value and 11.9 percent by weight. Lobster sales also declined 9.1 percent by value and 17 percent by weight.
Fresh shrimp sales fell 2.9 percent by value but rose 2.7 percent by weight. Salmon sales declined 0.2 percent by value, but sales by pounds in the category rose 0.5 percent.
In frozen seafood, frozen pollock was a bright spot in June, with sales by value rising 7.7 percent and sales by pounds inclining 8.2 percent.
“Whitefish, which offers a more favorable price point but also a very mild flavor profile and versatility for dishes ranging from fish tacos to fish fries, seems to be popular at the moment,” 210 Analytics Principal Anne-Marie Roerink told SeafoodSource in June.
Frozen shrimp sales, though, dropped 5.6 percent, while sales by pounds rose 0.5 percent. Frozen salmon sales declined 6.9 percent, and sales by value decreased 2.1 percent.
Overall economic conditions are likely …
