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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Cephalopods & Lent

By Ruth Levy

Lent is just around the corner and a great category to feature is Cephalopods:  Squid, Octopus and Cuttlefish.  These seafood items are consumed across many different cultures and certainly represent an opportunity for both the buyer and the seller.  In their frozen cleaned form, squid, octopus and cuttlefish are truly one of the best values in the seafood category as there is no waste, everything can be cooked.

How and where are these items used?  Squid or calamari is used in just about every type of restaurant whether it is fried, added to a seafood stew or poached and used in salad.  Cuttlefish is typically found more in Asian and Mediterranean cuisines stewed, grilled or fried.  Octopus has come into its own and can be found on your local Mexican, Chinese, Spanish, Portuguese & Australian Restaurant menu just to name a few.  The dishes can range from fried, sautéed, salad, barbecued to stewed.  The applications are quite limitless for this seafood category of cephalopods.

The value for cephalopods lies not only in the versatile applications but also in the low cost of the product.  Cleaned squid, octopus and cuttlefish are all 100% usable and cost a reasonable amount compared to other proteins.  This is one category where the three mantras of value, versatility and variety all apply.

So, when thinking about what to eat or to feature during Lent, don’t forget Cephalopods:  Squid, Octopus and Cuttlefish.  There are close to seven weeks to focus on seafood and cephalopods should be on the top of the list.

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What does this mean for our industry? Well, first and foremost, it hurts an already financially strapped domestic fishing industry that counts on revenues generated from this desired seafood item. Seafood importers will now look more intensely at Grouper supplies from both South and Central America. This will be passed on to wholesalers, retailers, restaurants, etc. in the form of much higher than normal prices to the end users, who just want to enjoy a nice piece of Grouper fillet every once in awhile.

In the past, high Grouper prices have led to many other firm, flaky, white meat species being passed off as Grouper fillets to restaurants, retailers, fish markets, and eventually, the consumer. The USDC has for the last few years cracked down on the mislabeling of these “Grouper-like” species and many unscrupulous practitioners have been caught, fined, and had their dealer licenses revoked. Major broad line, retail and warehouse club chains have also either removed Grouper from their seafood offerings or asked for proof of the Grouper’s authenticity. This helps every seafood purveyor that does things “by the book” and it allows the consumer to enjoy real Grouper, not a cheaper tasting and inferior quality substitute.

Traditionally, high Grouper prices have also helped to create legitimate markets and subsequent demand for other firm, flaky fillets that can stand on their own merit. Items such as Swai, Ponga, Corvina, and Kingclip are being imported and offered now with more frequency. They have also become widely accepted by many seafood purveyors and their customers are asking for it by name. Having alternatives when traditional species are not available creates value and opportunity in our industry. The next time that Grouper is not available, try one of these new items. You will find that you and your customers will come back for more.

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 Opah (Latin name: Lampris Regius) is an exceptionally colorful and beautiful looking fish that most people do not know much about. It is sometimes referred to as Moonfish because of its large round shape. Opahs can grow to almost 200 lbs, but typically range somewhere between 60 and 200 lbs. They have a silver/grey upper body color that shades to rosy red, dotted with white spots toward the belly. Its fins are crimson red and it has large, bright eyes that are encircled with golden yellow that really make them stand out. All Opahs are long-line caught.

There is no directed Opah fishery and you don’t see it sold in abundance anywhere in the United States other than Hawaii. It certainly isn’t consumed much here on the East Coast, but I am here to say that perhaps it should! Since it is an incidental catch by fisherman, it is available more often than not. Most of the Opah sold commercially is caught in Hawaii.  However, right now there is a small Opah fishery off of the Catalina Islands located off of the Southern California Coast that runs through January 31^st (starting in mid-November), weather permitting.

Opah has a very rich flavor, due to the high fat content in the fish. While it gets consumed raw (sashimi), I found it best served broiled where the oiliness really comes off the meat and on to your taste buds. I have seen it smoked and since the fish is so oily, I am sure that it “smokes up” well and tastes great!

Seafood Distributors purchasing Opah will more than likely receive what is referred to as the “rack” (head removed, tail and fins removed, and much of the lower two quadrants of the fish removed ). When the fish is cut to be sold, the “top loin“, or the meat at the top halves of the fish, is most desired. The meat is firm and bright pinkish red in color. The bottom loin, while edible, can be grisly, and generally ends up as kabobs or in dishes like tacos.  

Hopefully, you now know much more about this magnificent looking and tasting fish than you did before.

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What’s in a name? Grouper

by Richard Stavis

One of the biggest strengths of Seafood is also its biggest weakness- the incredible variety of species available.  A well recognized Seafood “name” is very valuable.  It has the power to drive consumption and to maximize its value.  In days past fishmongers would give these fish the name of the fish that they most closely resembled OR the name of a similar fish that had a high market value.  Thankfully this practice is behind us for the most part, but there remains a patchwork quilt of products that resemble “famous name” fish as well as some fish that are able to claim those names even though they may not taste or look as you might expect them to.  Our goal with this recurring column is to help consumers make informed choices, as well as, to make lesser known species more accessible.

The FDA defines Grouper as a number of subspecies in the Epinephelus genus of fish.  It has a mild white fillet that is moist, dense, and a bit chewy.  It’s a high value fish and it’s highly prized, especially in the southeast.  Demand for it outstrips supply.  It’s also the poster child for name fraud, and it’s rare in that the fraud still goes on to this day.   Sometimes the importer is in on the scheme, sometimes it is being scammed from the processor.  As this issue has come to the forefront most responsible importers (Stavis Seafoods included) have started DNA testing all incoming shipments of frozen Grouper to ensure that what they are selling is truly Grouper.  This is less practical on fresh fish as it is often harvested and sold in smaller quantities.

What are some of the more common Grouper imposters?  Historically exporters from Indonesia and Thailand have sold Sweetlip, Emperor fish, and Bonefish as Grouper.   Swai/Basa/Pangassius (a future “What’s in a Name” subject) from Viet Nam took the U.S. by storm in the early 2000’s.  One importer was convicted this past May of selling more than 1 million pounds of the fish as grouper, and that was just the tip of the iceberg.

A myriad of fresh fish have also been passed off as Grouper.  Some of the wild species used have included Tripletail, Corvina, KingClip, Snook, and Snapper.   We’ve also seen some farmed fish including Tilapia and Catfish being passed off as Grouper.

It is possible to ensure that what you’re selling can be or what you’re buying is legally Grouper, but is this the whole story?  What comes to mind when you hear the name “Reef Cod”?  Guess what- it’s a Grouper!  This fish has now become very popular because of its name cachet, but is it the best option if you want to replicate the experience of Atlantic Grouper?  Probably not- I’d go for Corvina! I ask again, what’s in a name?

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Branding             

One of the areas that I feel we have done a poor job of in the fresh seafood department is in developing brand loyalty.  No doubt there are plenty of branded products now hitting the case, as well as, a plethora of Private Label branded products.  But the question is - does the customer have any loyalty to these brands or are the products that they purchase driving their decision?  Is there a conventional retail store in this country that does not carry Oscar Meyer bacon, hot dogs and bologna?  Pepperidge Farm cookies?  Campbell’s Soup?  The list can go on at length of brand names that have become must-have products.  Are there any such products in the seafood case?  If a retailer changes from Chicken of the Sea brand shrimp to Contessa does the consumer really care?  Will anyone complain?  Will they even notice?

To make their brand relevant, companies need to define why it is important for the consumer to purchase - they need to develop a reason for the consumer to want to look for and purchase that brand.  As an industry we have spent a lot of time and energy convincing ourselves what the differences are between products - what we need to do is spend more of our resources conveying that message to the end consumer.   Through the power of branding we can convey to customers that the products that they are purchasing are safe, consistent and easy to use.   This, in turn, should lead to more confidence in their purchase and increase consumption.

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Fresh Swordfish

High quality Fresh Swordfish is currently at historically low prices. There is also no better time of the year to find the highest quality and freshest-to-market, swordfish around. This premium fish is harvested off the coast of Halifax, Nova Scotia in an area known as the Emerald Basin. The cold, clean, waters of the Emerald Basin are home to some of the largest, fattiest, best tasting swordfish found anywhere in the world.

Harvested by long line Canadian fishing vessels, these large Atlantic Ocean swordfish are prized for their freshness, firm meat and taste. The cold waters of Eastern Canada makes these fish very fat which gives the meat a lot of flavor.  This is very similar to what marbling does for the flavor of beef. The more fat, the more flavor!

These fish are not available year round. They have been available since August, but fishing boats have almost caught their quotas and the weather is starting to get nasty. This means that if you don’t buy these within the next few weeks, you will have to wait until next summer to have the chance to enjoy them again. Don’t miss out! If you are a lover of swordfish, now is the time to experience the best eating swordfish ever.  Just make sure that what you are buying is Emerald Basin, Canadian, Long Line Swordfish. You will not be sorry!

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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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Selling the Seafood Sizzle

One of the biggest problems that most consumers have with seafood is that they simply do not know how to cook it.  This problem can be solved with a little education which will, when done effectively, create a loyal, committed customer.  The question is how to educate. In today’s fast paced society, the consumer is typically looking to reduce their time shopping.  Although they may say they are looking for an experience, in most cases, they target on developing a solution to their need for a meal and want to be in and out of the store as fast as possible.  Getting your customer engaged will be the key to making them a customer. 

The passive route to take is to develop recipe cards and to make them available to customers both at the counter and via your web site.  The benefit of this approach is the low cost - on the flip side - it will do little to engage your customer and get them excited about seafood.  The more proactive means of engagement would entail product demonstrations on site to show the customer the possibilities for creating a meal.  The upside of this approach is that your customer will see, smell, and taste the product - the downside is that it is expensive and results in limited customer exposure. 

I would recommend a hybrid approach - shoot a short video - no more than one minute - showing customers how to cook a particular meal.  In order to fully engage your store associates in the promotion, have them submit the recipes and do the cooking.  Combine this with a menu planning card as a take away and you have fully engaged your customer and made a sale in the process.

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Is it “Mahi” or “Mahi-Mahi?”

I am often asked how to tell a male Mahi from a female and here is the answer:  females have rounded heads and males have prominent, protruding foreheads that are square-like shaped.  Mahi is starting to hit its peak, import season now, and should be readily available and attractive priced from October thru February.  Try it….you will not be disappointed!  

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