This Week in Fish January 2012

This week in Fish…  

January 10, 2012

January is the time of year we reflect back on 2011 and look forward to 2012. Generally speaking, seafood commodity prices in 2011 were extremely high. Shrinking harvests, combined with increased competition from around the world for this limited supply, produced record price levels at times in several seafood categories.

Sustainable seafood choices became more the "norm" in 2011 with many of our customers asking for advice on what species to put on their menus. It is important to understand that "sustainability" is a subjective topic. It is also extremely important to understand that once a species is deemed "sustainable" there is absolutely no guarantee it will stay there. Customers can align themselves with a particular interest group (Monterey Bay, Blue Ocean Institute, Marine Stewardship Council -- just to name a few). Or, they can ascertain the facts themselves and make their own determination. Congressional Seafood can help you make these choices. We have experts on staff to help you write your menus for each season. I picked up a Monterey Bay Aquarium sustainable seafood guide at a store the other day. It seems incredible that a subject so vast and complex can be reduced to a three-color (red yellow green) wallet sized note card.  This note card should be used as a good starting point for your research to choose sustainable menu items but not necessarily as the final word in your decision. Atlantic flounders (summer flounder - fluke) are listed under the "avoid or red" category. The summer flounder are expected to be "fully rebuilt", according to the NMFS in 2013. Harvests are currently sustainable and overfishing is not occuring. Under the "green"or "best choice" category are some great fishery management success stories. The first one that comes to mind is the North Atlantic swordfish. Their recovery began in 1999 under the direction of NMFS. They have been considered "fully recovered" since 2006. Their current biomass is 10% above the target level. The Alaskan halibut is also listed as a "best choice". However, the halibut quota has been drastically cut in the last two years. In 2010, 50 million pounds of halibut (that was their quota) was allowed to be caught. Last year, 2011, the quota was slashed by 10 million pounds to 40 million. And this year (2012) the quota will be slashed again to 32 million. The halibut are suffering from slow growth due to increased competition for their primary food source from an invasive species called the rock sole. Another great fishery management success story is the wild striped bass or rockfish. However, poor reproduction since 2005 has rockfish population declining over the last few years. Virginia is reducing its commercial rockfish by 40% in 2012! The state of Maryland is reducing the rockfish quota on pound-nets in 2012. The reproductive success of rock in the Chesapeake Bay this year was the fourth highest on record. So the future of the striped bass remains bright for the entire coast. My point for sharing these stories is not to downplay the work these groups, like Monterey Bay, are doing. But it is more to show the complexity of the issue and illustrate how quickly things can change. When you educate yourself on these issues, the entire sustainability movement benefits by having more people involved. We at Congressional Seafood are ready to help you write you next seasonal menu.

ATLANTIC SALMON

The Atlantic salmon market spiked to record levels last May and has now returned to its traditional price ranges. Thanks to the return of production from the Chilean salmon farms, we don't anticipate any surprises in 2012 and farmed Atlantic salmon will remain one of the few great values in fresh fish.

CRABMEAT

Pasteurized crabmeat (Portunnus pelagicus) from Indonesia, Thailand and Vietnam ended 2011 at near record price levels. The last time prices were this high was 2008. We don't think a "price collapse" is imminent, but 2012 should see a downward trend in pasteurized prices. One strategy to offset high pasteurized prices is to take advantage of the "fresh market" when it is "flooded' with fresh crabmeat. From May through September last year, the average difference between fresh and pasteurized jumbo was almost $5 per pound!

SHRIMP

The domestic shrimp market has been on the decline for the last six months. It "appears" to have hit bottom and rebounded slightly. The 2012 outlook on the shrimp category looks fairly calm. Aquaculture production is increasing out of countries like India while China is consuming ever-increasing amounts of shrimp as their middle class population grows. Gulf of Mexico domestic shrimp production is back up to full speed and prices are near historical norms. As a whole, the shrimp category is a better value than most of the finfish categories.

LOBSTERS, MEAT & TAILS

The live lobster market will climb between now and the end of April. The mild winter will allow, "new caught" production to continue when in previous years it has stopped by now. Prices will be lower this winter than in previous years due to high landings and poor market conditions in Europe. The Canadian coldwater lobster tail market is a value now and will continue to be a value in 2012. We stock incredible quality lobster tails (DownEast brand) from sizes 4-5 ounce through 10-12 ounce. The Downeast brand lobster meat is totally chem free and its "bone-dry" pack has guaranteed drain weights.

RESTAURANT WEEK ITEMS

Our recommendations for restaurant week items are as follows:

1. Small rockfish fillets -- cut from 2-4 lb whole fish -- these fish come out of Maryland waters of the Chesapeake Bay

2. Summer Flounder -- fluke -- hand cut fillets cut from 2-4 lb fish -- fluke are currently being landed in Chincoteague VA and Newport News - the NC fluke season is open (VA closed) but because the Coast Guard has closed Oregon Inlet (too shallow) NC boats are allowed to offload their catch in Virginia ports.

3. Atlantic salmon fillets -- True North brand -- New Brunswick Canada

4. Tropical tilapia -- product of Ecuador

5. Domestic Gulf shrimp -- "Dominick's" brand -- Dominick Ficarino star of "Big Shrimpin"

6. Carolina Mountain rainbow trout products

7. Blue Bay Mussels -- Prince Edward Island Canada

8. Chincoteague "Salts" -- shell oysters -- farmed in Chincoteague Bay and picked up daily by our own trucks along with farmed littlenecks, midnecks tops and cherrystone clams