Gasoline prices are at record highs, but you may also need to budget for another type of property.
If you’re craving seafood, you might want to check prices before placing your order.
As demand increases as many Christians observe the Lenten holiday, some seafood products are doubling in price.
Crawfish are slightly more expensive than this time last year, and the average price for boiled crawfish is around $5.80 a pound in Baton Rouge.
Crab and lobster prices are about $10.00 more expensive than they were in 2021.
The biggest price increase is for oysters, which increased in price by about $30.00.
Tony’s Seafood manager Charles Dupis says typical supply trends have disappeared and they have had to adjust their prices accordingly.
“In the beginning when it started to happen, we kind of let it eat away at our margins because we were like, ‘We can’t raise the price that much.’ We can’t raise the price that much. So that has eaten away at those margins,” Dupis said. “But at some point you have to follow the market, or you just do it for the fun of it.”
Dupis says even things like cooking oil, wrappers and other supplies have gone up in price.
The Southeast region achieves over $10 billion in seafood sales each year, but due to COVID and adverse weather conditions, the seafood industry has suffered more severely with longer lasting effects than others.
LSU economics professor Dr. Philip Marx says this is a typical supply and demand problem, and that other shortages play a role.
“The market may be less able to respond to increased demand by supplying more than usual as it is constrained by supply chains not working as well as they would in the past. course of a normal year,” Marx said.
With warmer weather ahead, Dupis is confident that Tony’s Seafood will operate as usual.
“Once we’re at the peak of the season, on Saturday, we can boil 10,000 pounds,” Dupis said. “It’s not unusual.”
Prices should stabilize in the coming months.