SeaFood Business

DEC 2012

SeaFood Business is the global trusted authority for seafood buyers and sellers. We are the seafood industry's leading trade magazine with more than 30 years of experience. Our coverage is based on the "business" of buying and selling seafood.

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Top Species associates, Bruffy says Regal Springs has developed pro- grams to recycle the various aspects of tilapia production, from selling scales to the cos- metics industry to using fish oil for biodiesel to creating fishmeal for use in poultry and livestock feed. Value and versatility Bruffy says tilapia is popu- lar because "it's a fish that doesn't taste like fish," mean- ing its mild taste appeals to even marginal fish eaters. Also appealing is its white, flaky, meaty texture and its price, which puts it below similar species such as grou- per or mahimahi. About 60 percent of Regal Springs' business is frozen tilapia, which Bruffy says sells for $1.50 to $3 a pound, based on size. Meanwhile, fresh is more in the $4 range. In the early part of the year, Western Edge's Kelley says prices were very near production costs, which pushed some farmers to look to other, more profitable spe- cies. Te cost of fishmeal has risen, he says, as the price of grain commodities has increased. Additionally, Kel- ley says there has been some overbuilding in aquacul- ture, so now there is some natural regression within the marketplace. High Liner Foods buys a lot of tilapia, says Keith Decker, COO. "It's our No. 4 species," after pollock, cod and haddock, he says, and is used in all channels, but es- pecially casual/family dining and retail. Te benefits of tilapia are its consistent supply and price. Still, notes Decker, the species could face some chal- lenges as input costs con- tinue to rise and competition from wild fish and farmed pangasius heightens. "We'll see a lot of wild and pangasius coming into the market," he says, adding that pangasius import numbers continue to climb. But even with the avail- ability of cheaper pangasius, which is selling for around $1.10 to $1.20 a pound, that species hasn't caught on with consumers the way tilapia has. "Tere's a lot of tilapia on the menu and it's front and center with consumers," Decker says. Until pangas- ius, which also goes by swai and some other names, solves its marketing issues, tilapia will still be one of High Lin- er's featured fish. Decker likes tilapia because it takes well to flavors and coatings, which is how the company continues to feature it as it develops new products. "We like it as an alternative to mahimahi. And it syncs well with the other flavors on our menu." — Drew Sherill, executive chef, The Blue Star Group "We'll put out more in our FireRoasters line," says Deck- er, who also noted expansion of tilapia in its UpperCrust and Pan-Sear offerings. Among Western Edge's customers, especially for re- tailers, the 3- to 5-ounce size is the most requested. "We like to say China is typically a 3- to 5-ounce economy," says Kelley, and demand has accommodated itself to that. Retailers are looking at what provides the greatest cost benefit, he says, while on the foodservice side, choices are more culinary-driven. successful with some cus- tomized farming for Western Edge has been larger sizes, with about 30 percent of supply in the 5-ounce or larger category. "If you are culinary-driven and want plate coverage and a larger, meatier fish, then you're probably looking in the 7-ounce range," he says. Drew Sherrill, executive chef for Te Blue Star Group, which operates three restau- rants in Colorado Springs, Colo., recently added tilapia to the menu at La'au's Taco Shop. In November, the restaurant began offering ti- lapia tacos as an alternative to the mahimahi already on the menu. Sherrill says as mahimahi prices have crept up, and with the availability of farmed tilapia from Colo- rado, the decision was made to add the species. Sherrill hopes tilapia will become a permanent part of the taco shop's menu. "We like it as an alternative to mahimahi," says Sherrill, "and it syncs well with the other flavors on our menu." He says while the plan is to source the fish locally, he would consider purchasing farmed tilapia from more traditional sources, such as the Pacific Rim. As way of introduction to its customers, La'au's of- fered three tilapia tacos with chips for $5 during a two- week promotional period. Te fish is prepared in a chili marinade, says Sherrill, and topped with napa cabbage, corn and ahi de peru, a cel- ery-based salsa. While Nosh, another Blue Star Group restaurant, has a set menu that doesn't lend it- self to tilapia, Sherrill says he has offered tilapia at Te Blue Star as well on a rotating basis. Contributing 26 SeaFood Business December 2012 Editor Joanne Friedrick lives in Portland, Maine Visit us online at www.seafoodbusiness.com Photo courtesy of Tropical Aquaculture

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