The perfect storm of high demand in Asia and low supply in Alaska has caused the ex-vessel price for Bristol Bay’s prized red king crab to skyrocket this year, creating a domino effect of price hikes that starts at the boats and ends with U.S. buyers and consumers.

The ex-vessel final adjusted price for the product is $10.75 (€7.95) per pound, $3.30 (€2.44) more than last year’s price of $7.45 (€5.51), Rob George, owner and founder of The Crab Broker Inc.,