What’s In a Name? The True Langoustine (aka Scampi)

By Robert Landy

What is Scampi? There’s shrimp scampi, which is shrimp cooked in garlic butter, but that’s not scampi. Scampi is a type of lobster and is one of the world’s finest delicacies. There are, however, other species frequently referred to as scampi. For example, in the Midwest region of the US freshwater shrimp (Macrobrachium Rosenbergii) are referred to as scampi. So again, what exactly is scampi?

Is scampi a crawfish? Is scampi a crayfish? No, scampi are small clawed lobsters that unfortunately look a little bit like a crawfish. But they definitely shouldn’t be confused with the freshwater crawfish, which is primarily from the Gulf of Mexico and China. Crayfish is another name used for spiny lobster, and if that’s not confusing enough, in the southern US crawfish is called crayfish!

Tray of Crawfish

Is scampi a langostino? No, the Spanish word for shrimp is langostino, so we know it’s not that! A langostino is a squat lobster caught in Chile (Cervimunida Johni) and on the Pacific coast of Central America (Pleuroncodes Planipes).  These are very small lobsters that are sold mainly as cooked IQF meat.

Langostino Meat

So what are we talking about here? To start with, the French name for scampi is Langoustine, and so a scampi lobster is the true Langoustine.  It’s commercially caught in the North East Atlantic and in the North Sea. The Latin name for this species is Nephrops Norvegicus. There are also commercial quantities caught off of New Zealand and the Latin name for this subspecies is Metanephrops Challengeri. There are small quantities of scampi caught elsewhere, but the numbers are so few these are usually consumed locally. Most of the true Langoustines are sold head on, however Iceland and Ireland mainly process headless tails.

Tray of Scampi (Nephrops Norvegicus)

What do we call these buggers? These little lobsters are commonly called Scampi, Danish Scampi, Norway Lobster, Dainty Tails, Lobster Dainty, Dublin Bay Prawns, or, for you French buffs, Langoustines. Regardless of what you call them, they are truly one of the finest eating specialties from the ocean. Scampi have an amazing delicately sweet flavor and are served in the fanciest of restaurants.

New Zealand Scampi (Metanephrops Challengeri)

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Shrimp Expert

by Emily Stavis

A Seafood Expert by definition is a person who has a special skill or knowledge in some particular field. While I don’t think of myself as an “expert,” I do get to participate in, and learn about, the various Shrimp markets all over the world.  Many buyers in the seafood business do not monitor, purchase, or get involved in many different Shrimp markets. They may be a supplier in the Gulf who is selling only Domestic Brown and White Shrimp in various forms, or they may be a Shrimp producer in Bangladesh specifically concentrating on the farming, marketing, and supply situation of Tigers and Freshwater Shrimp.  They are typically not involved with the other species that they do not handle.

I have a distinct advantage from where I sit, and that is because my company carries a wide range of different Shrimp items. Each day, I get to compare and contrast the Wild and Farmed markets, the White Shrimp and Tiger Shrimp Markets, the Shell-On Shrimp markets and the value-added Shrimp items like P&D T-On (peeled and deveined Tail-On Shrimp) and P&D Tail-Off (peeled and deveined tail-off Shrimp).

Prices on any given size of Shrimps can vary by as much as $1.00 - $2.00 per lb depending upon markets and the forms of Shrimp. For example today a 16-20 Domestic Shell-On Shrimp is selling in the low to mid $5.00/lb range at a wholesale level while PDT-On Shrimp of the same size are selling at a low $6.00 level wholesale.  One is a Wild Domestic Shrimp that needs labor to peel and devein it at the end user level and one is Farmed Tiger that is ready to cook with little to no labor to get the Shrimp ready for the pan.

The markets are constantly changing as seasons begin and end, supply situations go up and down, and the currency exchange fluctuates on the world markets.  Then there are the natural disaster and weather occurrences that can affect the markets as well. Many factors play into making decisions about the what and the when to carry product and this is what makes my job exciting, nerve wracking and just plain fun from day to day, season to season and from year to year.

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 What’s my fish worth?

I remember a conversation I had with my Uncle Eddie back in the late 80’s when I was a relative greenhorn in the business.  I’d had 3 or 4 years of buying experience under my belt and thought that I had a pretty good idea what this business was about.  Ecuador was king when it came to Shrimp, and shell-on was the only way to go.  The import cost of 50/60 count shrimp had just plummeted from 3.20/lb down to the unheard of price of 2.80/lb!  I tried to make the argument with Ed to take whatever capital we had and buy as many 50/60’s as we could lay our hands on because the item had gotten so cheap that it was selling below the base intrinsic value for the Shrimp.  Ed was very quick to point out to me that there is NO intrinsic value in Seafood.  Your fish is only worth what your customer is willing to pay you for it.

20 years later Ed’s words hold up better than ever.  Those 50/60’s that I would have felt safe selling at 2.95/lb are now worth 2.60/lb or less, and that size is one of the least affected by the deflation in the value of Shrimp.  Most sizes of Black Tiger Shrimp are at prices in the low end of the 10 year trading range.  Domestic Shrimp has taken a bigger hit, as it is now considered to be less valuable in the market than tigers, a total reversal in attitude!  Domestic Shrimp are selling at prices lower than they were in 1985, and that’s not taking into account the erosion in the value of a dollar.  In real terms the shrimp is selling for less than half what it did back then!

Let’s not limit our discussion to the value of Shrimp.  You can find similar examples with other species including Snow Crab, Warm and Cold water Lobster tails and meat, fresh Swordfish, and dozens of other products, all of which are trading at or below the prices that they’ve sold at any time during the last 20 years.  At the same point we have other items where prices are zooming.  Farmed Salmon fillets were worth 4.10/lb on average in September 2007.  They’re selling for 5.50-5.75/lb now.  Scallops are selling at or slightly ahead of the prices that they were at last year.  Frozen Swordfish prices have jumped about 20% in the last 2-3 months.  The general trend at the moment is deflationary, but there are items that are bucking the trend.

What’s the answer to the question up top?  Your fish is worth what your customer will pay for it AT THE MOMENT WHEN IT IS NEEDED.  If you’re a speculator in stocks or precious metals you may want to speculate in seafood as well.  This is perfectly fine as long as you follow basic rules.  Don’t invest before you research the market.  Be careful buying commodities that are not openly traded, where it is more difficult to establish a current market price.  Be realistic about whether you can sell your purchase when it comes time to liquidate- don’t buy more than you can move in a reasonable timeframe.  Don’t gamble what you can’t afford to lose. Finally, don’t forget- fish is not gold or even wine- it doesn’t get better with age!

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Shrimp Recipe

Shrimp has become one of the most popular seafood items consumed by Americans today. There are many reasons why this is happening. One of them being that shrimp comes in a variety of packs and count sizes, therefore you buy the pack and size you need - so there’s no waste. It is also very affordable, versatile and easy to cook.  In minutes, you can have a delicious, healthy, home-cooked meal. There are many wonderful shrimp recipes around, here’s one of my favorites:

Shrimp Scampi

Ingredients

• 1 bag of BOS’N Black Tiger Shrimp
• 1 raw onion (diced)
• 1 green pepper (diced)
• 1 bunch of scallions (diced)
• 1 box of linguini
• 1 16oz. can of tomato sauce (optional)
• A dash of: seasoned salt, garlic salt, accent and pepper
• 1/2 stick of butter

Instructions

• Boil the pasta until al dente
• Saute shrimp with butter
• Combine with diced onions, green peppers, and scallions
• Let this mixture simmer for 5 minutes
• Add tomato sauce (optional)
• Let it cool for 3 minutes
• Drain the pasta and mix it all together in a large bowl, serve with salad and garlic bread

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The Luxury Backlash

This economic disaster has created widespread commodity deflation. With the exception of Farmed Salmon, which is suffering from a major crop failure in Chile, we have seen prices drop. Sometimes these price drops can be good for a product. Lower prices, historically, have lead to increased consumption, and we’ve seen this on a number of items this year. There are a category of items however that have experienced a disproportionate drop in value and seen consumption drop to boot. I’m talking about luxury seafood items. 

What is a luxury seafood item? You’d think that it would be defined by price, but that is only part of the story. Perception is the other part of the equation. How many people are buying Hummers right now? Not a lot. It’s not solely based on the cost.  According to Carprice.com the base price of a Hummer is $32,345. The base price of a Toyota Avalon is $32,145, virtually identical. The Hummer is actually cheaper on the lot. People aren’t buying Hummers because of the message of “in your face” luxury and crass commercialism. Three years ago it was a status symbol. Now, it’s an embarrassment. This same thing is happening in Seafood.

What have been the biggest losers this past year in seafood? Jumbo Lump Pasteurized Crabmeat, Jumbo Shrimp and Lobster tails. These items dropped in value precipitously when the economy softened. The worst part was that consumption dropped more quickly than the prices, and no amount of discounting could bring that customer base back into the fold. We’re almost a year into the new economic reality and what do we see with these items? The pricing is still at or near historic lows and demand is still relatively low. What’s to be done?

We have to reposition these seafood items and make them accessible to a wider range of customers. We have to take the smaller sizes of lobster tails and sell them at retail as an affordable luxury. We need to get large shrimp on the menus of midrange restaurants in preparations that are not too “snotty” and at prices that are reasonable. We need to change customers’ perceptions of the position of these items in the marketplace.

It wasn’t just our 401k values that changed when the economy went south. We also have experienced a major shift in culture, away from flash and pretention and towards modesty and value. No one is sure how long the economy will be bad. Similarly we don’t know when or whether we will see a shift in cultural values. We need to live in the present and build our business based on current realities. If we do this, we’ll create a stronger and more stable base of demand for all products.

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Confusion reigns in the Gulf….

I have only been buying the shrimp in earnest here at Stavis Seafoods for the last five years, so my historical perspective is a bit skewed when it comes to all time low pricing in certain markets. This year for sure, we have hit the ALL TIME low since Hurricane Katrina and beyond when it comes to domestic shell-on and peeled shrimp.  Up here in the New England states we really try and stick to using white shrimp from the Gulf, as our consumer tastes just prefer milder wild shrimp; but, we still keep our pulse on the brown markets as well. When 16-20 white shell-on domestic shrimp hit bottom about three years ago, many of the importers who were only focusing on tiger shrimp and other Asian species jumped in and bought truckload after truckload.

This year there are many factors in play that have driven the price to below the record low of three years ago.  The fuel costs have been relatively low, the fishing in the Gulf has been exceptional, the import prices of tiger shrimp have remained fairly stable due to lower production and the currency exchange and, frankly, the economy is still NOT improved enough for importers and speculators to jump in and make container load purchases unless they have prior commitments. These factors have resulted in lower and lower prices of both shell-on shrimp and peeled shrimp.

So are we at the bottom? Well, this is the BIG question for all of the buyers large and small out there.  If there is a significant weather event (hurricane season is upon us) and fishing gets interrupted, the prices could creep back up.  If suppliers hold their inventories and the economy does not improve, then the “sales for cash” could keep markets remaining weak. We are about to come into the Mexican wild season starting in October and if they have good catches, then the prices could remain low in the Gulf as well.

When my dad, Ed Stavis bought the shrimp here for over 30 years he would always say, “dealing in all of these markets is fun and interesting,” and boy was he right! He was the master and we still have the most animated discussions over the shrimp markets today.  Whether or not we are at the bottom of this market, the good news in this economy is that consumers can enjoy wild caught domestic shrimp in many forms at really affordable prices, and it should be on any and all menus in restaurants and in retail chains across America.

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