Emart Sells One Russian Snow Crab for 40,000 Won

[Asia Economy Reporter Seungjin Lee] Emart is offering live snow crabs at a price cheaper than the auction price of live blue crabs.

From Friday the 29th to Sunday, Emart will import about 40 tons (t) of live snow crabs from Russia, approximately 36,000 crabs, and sell them at 3,780 KRW per 100g, about 30% cheaper than the normal price. Considering that each crab weighs about 1kg to 1.1kg, the price per crab is around 40,000 KRW.

In April, Emart sold 30t of Russian live snow crabs at 3,800 KRW per 100g and sold out in just four days. This time, they have increased the quantity for the event.

In 2019, Emart sold a total of 25t of live snow crabs throughout the year, and they already sold more than a year's supply during the April event. Now, they have imported an additional 40t for this event.

The event quantity will be distributed to stores over three days?Friday, Saturday, and Sunday?and to allow more customers to enjoy snow crabs at a low price, sales are limited to two crabs per person. The event will end early if the stock runs out.

Meanwhile, due to the continuous rise in blue crab prices, decreased demand from China caused by COVID-19, and sluggish domestic consumption leading to a drop in snow crab prices, a price reversal between blue crabs and snow crabs has occurred.

Among the four major crustaceans?king crab, blue crab, lobster, and snow crab?snow crab used to be the second most expensive after king crab. However, due to the reduction of blue crab fry release projects and illegal fishing by some Chinese fleets, the catch volume has continuously decreased, making snow crab the cheapest among the four major crustaceans last year.

Emart’s seafood buyer, Sangmin Kim, said, “Due to the decrease in blue crab catch volume and the slump in snow crab consumption, the price of snow crab, known as a premium ingredient, has become cheaper than blue crab. We plan to continue offering various seafood products at affordable prices to consumers through Emart’s purchasing power.”