How Much Do Scallops Cost?
Last Updated on December 8, 2024
Written by CPA Alec Pow | Content Reviewed by CFA Alexander Popinker
Seafood lovers know that scallops deliver an unforgettable culinary experience. Their sweet, briny taste and tender texture make them a treasured delicacy. But with scallop prices reaching record highs lately, consumers need to understand the costs. This article examines the many factors impacting scallop prices, from fishing regulations to seasonal availability. Read on to learn tips for getting the best value on these gourmet shellfish.
Scallops have always commanded premium prices, but recent shortages have amplified costs to unprecedented levels. For large U/10 scallops, current market prices exceed $30 per pound—more than double the historical range. Even smaller sizes like 10/20s and 20/30s are surging upwards. What’s behind these eye-popping price hikes? Let’s break down the forces driving both retail and wholesale scallop costs.
How Much Do Scallops Cost?
Scallops range in price from around $15 to $30 per pound, with premium scallops like large, dry U10s exceeding $30 per pound at the high end. More budget-friendly options like previously frozen bay scallops can cost as little as $15 per pound on the lower end of the price spectrum.
For shoppers, published retail prices offer a good guide to expect costs. Here are current price ranges:
- Supermarkets – $15 to $18 per pound
- Seafood Markets – $17 to $22 per pound
- Online Direct – $18 to $25 per pound
- Gourmet Shops – $25 to $30 per pound
According to Selina Wamucii, the retail price for scallops ranges from $17.80 to $36.59 per kilogram, which translates to approximately $8.07 to $16.60 per pound. This pricing reflects current market conditions and can fluctuate based on availability and seasonality.
Another source, Santa Barbara Fish Market, lists their Wild Sea Scallops at a price of $47.95 per pound. These scallops are harvested from the cold waters of Massachusetts and are known for their sweet flavor, making them a popular choice for various culinary preparations.
According to Intershell Seafood, live North Atlantic scallops are priced at $9.45 per pound for large scallops and $7.20 per pound for medium-sized ones. They emphasize that their scallops are harvested fresh from the waters off Cape Cod and delivered alive, ensuring maximum freshness for consumers.
Lobster Anywhere offers fresh sea scallops starting at $29.00 per pound for their U-10/20 count (10-20 scallops per pound) and going up to $36.00 per pound for larger U-10 scallops (under 10 scallops per pound). This source highlights the quality of their day boat scallops, which are known for being wild-caught and free of additives.
Additionally, Fassler Gourmet sells USA scallops frozen at a price of $21.00 for 500 grams, which is roughly equivalent to about $19.05 per pound. Their product is halal-certified and marketed as big, juicy scallops that are easy to prepare.
These are national averages, so regional availability heavily influences local costs. Prices also fluctuate weekly, even daily. Buyers can expect to pay premium prices for qualities like freshness, larger sizing, and sustainability certifications.
Scallop Prices at Restaurants
Dining out lifts seafood costs substantially. Restaurant overhead plus labor and profit margins multiply basic food costs. For a taste of scallops, expect to pay:
- Casual Dining – $15 to $25 per entrée
- Upscale Seafood – $25 to $40 per entrée
- Fine Dining – $40+ per entrée
These estimated costs for scallop dishes illustrate the significant price jump from retail to restaurants. Of course, preparation techniques also affect menu prices. Sashimi-grade scallops or complex preparations like bacon-wrapped escalope can command upwards of $50 an entrée.
What Impacts the Cost of Scallops?
Many interconnecting factors influence the prices that suppliers, retailers, and consumers pay for scallops. Here are some of the key components affecting their costs.
Limited Supply
Scallop prices directly correlate with availability. Right now, tight supply is squeezing the market. Difficult harvests and fishing area closures have severely restricted scallop landings. With fewer scallops coming ashore, costs are spiking. Until fishing results improve, limited supply will continue pressuring prices.
Rising Demand
Surging consumer appetite for scallops also lifts prices. Their popularity on restaurant menus and cooking shows fuels demand. Plus, scallops appeal to health-conscious shoppers for their lean protein. Rising demand against constrained supply equals an economic recipe for higher costs.
Regulations
Government fishing regulations aim to ensure sustainability of scallop populations. But quotas, seasonal closures, and protected areas also restrict supply, indirectly elevating prices. Complex regulations mean unpredictable harvests, causing market volatility.
Harvesting and Processing
Labor-intensive harvesting and processing add expenses that boost costs. Fishermen must invest in dredging equipment. Hand-shucking scallops or utilizing automated machinery are pricey procedures. And strict handling protocols to deliver quality products further increase costs.
Transportation
As highly perishable seafood, scallops require rapid transport from vessels to processors to retailers. Air freight and refrigerated trucks add substantial transportation costs. And escalating fuel prices drive up distribution expenses, ultimately raising retail prices.
Cost Breakdown From Ocean to Plate
To understand scallop prices fully, it helps to break down costs from the initial harvest to final retail sale. Here are the key steps:
Harvesting – Crew wages, equipment, fuel, and supplies tally around $5 per pound at-sea costs before even landing scallops. Longer voyages multiply expenses.
Auction – After fast transport to port, boats offload catches for immediate auction. Prices vary tremendously based on size, quality, and volume. Currently, large U/10s fetch over $15 per pound.
Processing – Plants invest in labor, facilities, and transportation to handle scallops. With overhead, profits, and today’s supply challenges, processors may pay $20 per pound or more.
Distribution – Packaging, refrigerated transport, and distribution add at least $2 per pound to costs.
Retail Markups – To cover overhead and make a profit, seafood retailers double wholesale prices. So $20 per pound wholesale scallops become $40 per pound retail.
This simplified overview shows how costs steadily multiply from the boat to your plate. Every link in the supply chain adds incremental expenses.
Seasonality Affects Cost
Scallops are harvested year-round, though spring and summer typically deliver peak supplies. Seasonal influences on pricing include:
- Winter Prices: Low inventory from previous year’s harvest can inflate costs. Fewer fishermen operate during winter storms, constricting supply. January tags the yearly pricing peak.
- Spring/Summer Declines: As fishing ramps up, expanded harvests bring down costs. More abundant U/10s and U/12s arrive along coasts. Late May reaches optimal value.
- Fall/Holiday Increases: Scallop demand spikes for the holidays, lifting prices come October. Thanksgiving and Christmas meals drive seasonal costs higher.
Buyers can leverage scallop seasonal pricing trends. Purchasing in late spring and early summer hits peak affordability for gourmet scallop dishes.
You might also like our articles on the costs of clams, abalone, and oysters.
Getting the Best Value on Scallops
Smart shopping delivers scallop savings:
- Buy direct from local seafood markets or trusted online sellers when possible. This eliminates retailer markups.
- Opt for frozen-at-sea scallops to cut costs up to $5 per pound below fresh. Quality rivals fresh when properly frozen.
- Purchase scallops in their peak season from May-August when abundances reduce prices.
- Take advantage of sales, promotions, and loyalty discounts to save 10-20%. Sign up for specialty seafood subscription services.
- Consider scallop alternatives like shrimp, crab, or mussels when scallop prices spike out of budget.
Avoid compromising on quality to chase low prices alone. Higher-priced scallops from reputable sellers prove their value in tenderness and flavor.
Expert Insights
Industry experts offer smart scallop buying advice:
“For a nice dinner, focus on buying a smaller portion of top-grade scallops rather than a larger amount of average scallops. A sublime taste experience beats mundane volume.” – Chef David Santos, acclaimed seafood chef
“Knowing your preferred recipe makes selecting scallop size easy. Searing or grilling benefits from large U10s. Broiling, sautéing, and stir fries do well with smaller 30/40s. Match the scallop size to the cooking method.” – Barton Seaver, cookbook author and seafood sustainability advocate
“Check labels when buying scallops. Terms like ‘dry’ or ‘diver’ scallops indicate higher-quality options and come with higher prices. ‘Wet’ scallops absorb preservatives during processing but offer more affordable options.” – Ray Krueger, seafood wholesaler
This expert wisdom provides helpful tips for maximizing value when buying scallops, no matter your budget.
Future Scallop Price Projections
Predicting longer-term scallop price trends depends on many variables. But experts forecast:
- Continued high demand supporting elevated pricing, especially for foodservice.
- Potential supply growth if fisheries meet harvest goals and more farms produce scallops. This could ease prices.
- Inflationary factors including fuel, wages, and transportation will keep upward pressure on costs.
- Climate change impacts may affect scallop growth, mortality rates, and fishery yields over time.
Within a 10-year window, scallop prices likely moderate but remain at least 25% above historical averages if demand persists and supplies rebuild. But environmental disruptions could alter projections.
Scallop Market Trends
The high cost of scallops is shaping market behaviors in several ways:
- Diners are ordering scallop appetizers rather than entrées to control spending. Restaurants are tweaking menus with smaller scallop dishes to retain customers.
- Consumers are supplementing expensive scallops with cheaper seafood like tilapia or swai. Retailers are stocking more low-cost fish to complement luxury items.
- Shoppers are purchasing frozen scallops instead of fresh to save money. Frozen scallop sales are expanding while fresh seafood cases shrink.
- Chefs are strategizing to maintain profits. Some add cheaper fillers like noodles alongside scallops while others swap out scallops entirely for lower-cost seafood specials.
- Suppliers are investing in scallop aquaculture to stabilize long-term pricing and supply. Farmed scallops now claim nearly 10% of global production.
Rising prices clearly nudge scallop consumption and industry practices. As costs remain high, these trends will accelerate.
Final Words
For seafood devotees, buttery seared scallops merit their lofty price tags on special occasions. But today’s record costs limit everyday extravagance. With smart buying, budget-minded gourmets can still enjoy scallops without breaking the bank.
Just follow seasonal pricing trends, buy direct when possible, and maximize value per pound. Then savor sustainable scallops in perfect moderation.
Answers to Common Questions
How can I get scallops for a good price?
Aim to buy scallops in season during late spring and early summer when expanded fishing drops costs. Check your local seafood market for specials. Or purchase previously frozen scallops which cost less than fresh. Joining a seafood subscription service or retailer loyalty program can also reduce prices 10-15%.
What are affordable scallop alternatives?
Shrimp, crab, mussels, and some whitefish offer lower-cost seafood alternatives to enjoy instead of pricey scallops. Tilapia, swai, trout, and arctic char provide mild, flaky options that cost far less per pound. Clams, calamari, and oysters can also substitute in scallop dishes at a fraction of the price.
Should I pay more for “dry” scallops compared to “wet”?
Yes, dry scallops are worth paying 15-25% more per pound. They absorb no chemical preservatives during processing, yielding superior texture and flavor. Wet scallops tend to be softer and less sweet. Opt for dry scallops when your budget allows to maximize taste and quality.
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