Report tracks pricing trends for north carolina seafood

[NCangler]

MOREHEAD CITY – Dockside values of North Carolina shrimp have taken a dive since 1972. But many other seafood species are worth more than they were then, according to the report “Trends in North Carolina Seafood Prices” that was released Wednesday by the N.C. Division of Marine Fisheries.

The report tracks changes in prices paid to fishermen for select species of seafood landing in North Carolina during the past 35 years. It lists both actual amounts and values adjusted for inflation.

Fishermen were getting paid $1.88 per pound for shrimp last year, compared to 64 cents per pound in 1972. The 64 cents price in 1972 would be equal to $3.16 in today’s economy, according to the report.

“Once you take inflation into account you can really see how it’s plummeted,” said Scott Crosson, the division’s socio-economics program manager.

On the other hand, the dockside price for crabs in 1972 was 10 cents per pound, which would be 50 cents per pound in today’s economy. Fishermen were getting paid 88 cents per pound for crab last year.

The report does not try to explain reasons prices increased or decreased, but stated that some factors affecting seafood prices are fuel and other trip expenses, consumer tastes, stock status and regulatory availability.

The report clearly shows the affect economic recessions have had on some species as well, Crosson said. The United States suffered recessions from 1973 to 1975, 1980 to 1982, 1990 to1991 and 2001 to 2003. The first two recessions were more damaging to seafood prices than the two most recent recessions.

The adjusted price paid for oysters, for example, fell consistently from 1980 to 1982.

“Oysters are a perfect example of something you tend to buy more of when you have money in your pockets,” Crosson said.

The report can be downloaded at http://www.ncdmf.net/download/NorthC...foodPrices.pdf.

Crosson can be reached for comment at (252) 726-7021 or Scott.Crosson@ncmail.net.