U.S. Scallop Market in May 2026: Medium Sizes Under Pressure, Large Sizes Hit New Highs

In the final week of May 2026, the U.S. Atlantic scallop market saw sharp structural divergence: medium-sized supplies surged and prices retreated, while large sizes remained scarce with prices skyrocketing. The global supply chain adjusted accordingly, with Japanese scallops holding firm at high prices and Peruvian supplies filling mid-tier demand. Tight supply for premium sizes will persist through summer.

1. U.S. Domestic Market: Medium Sizes Pull Back, Large Sizes Hard to Source

Medium Sizes (10/20, 20/30): Surplus Supply Triggers Price Correction

• Key data: For the week ending May 24, landings at New Bedford—the U.S.’s largest scallop port—reached 590,381 lbs (267.8 tons) with a turnover of nearly $8.6 million, up sharply from April. New supply was concentrated in 10/20 and 20/30 medium sizes.

• Price trend: Since late May, 10/20 sizes have fallen by about $1/lb from late April peaks. Trading activity for 20/30 sizes slowed as buyers grew cautious.

Large Sizes (U10, U12): Resource Constraints Drive Record Prices

• Record prices: U12 scallops at New Bedford surged to $37/lb, breaking the previous record of $34.9/lb. U10 and U12 remain the most difficult sizes to source nationwide.

• Resource bottleneck: NOAA cut the 2026 Atlantic scallop catch quota to 17 million lbs for the year. Large-size stocks show limited recovery, keeping supplies tight.

2. Import Market: Japanese Scallops Hold High Prices, Peru Fills Mid-Tier Gaps

Japanese Scallops: Production Cuts Lift Costs, Indispensable for Premium Dining

• Tight supply: Persistent production declines in Hokkaido’s Sea of Okhotsk pushed Japan’s U.S.-bound frozen scallop export price to a record ¥6,689/kg in October 2025. Prices stabilized in 2026 but remain elevated. Processors face raw material shortages and reduced operating rates.

• Market dynamics: U.S. buyers scaled back purchases of pricey Japanese large sizes in May, but domestic U10/U12 shortages persist. Premium Japanese scallops remain irreplaceable in high-end dining.

Peruvian Scallops: Plugging Mid-Tier Gaps with Limited Reliability

• Supply relief: Peruvian scallops flowed into the U.S. in May, mostly in 10/20 and 20/30 sizes, easing domestic supply pressure.

• Limitations: Peruvian supplies lack consistency and cannot replace U.S. or Japanese large sizes, which dominate the premium segment.

3. European Market: Steady Demand, Stable Prices

The European scallop market was calm in May. Prices held steady at French wholesale markets, with foodservice and retail relying on small-batch restocking. Consumption recovery remains slow, with no upward price momentum.

4. Market Outlook: Premium Sizes to Stay Expensive Through Summer

As of May 27, global scallop supplies remain far from abundant:

• U.S. medium sizes face near-term pressure, but large-size resource depletion is entrenched.

• Japan’s production slump continues, keeping raw material prices high.

• Peru only fills mid-tier gaps, with premium shortages widening.

Industry consensus: Premium scallop prices will stay elevated through summer 2026, with U10/U12 likely hitting new highs. Medium-size prices will fluctuate with supply, staying relatively low. Buyers should secure long-term contracts, prioritize alternative sources like Peru, and mitigate risks of large-size shortages.

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