January 30, 2019 — At the beginning of the panel on premium finfish at the 2019 Global Seafood Market Conference in Coronado, California, on 15 January, moderator Derek Figueroa, the chief operating officer of Denver, Colorado, U.S.A.-based Seattle Fish Company, flashed a slide with the definition of both “premium” and “premium seafood.”
- Premium: Noun – a high-value or a value in excess of that normally or usually expected. Adjective – of exceptional quality or amount.
- Premium seafood: Species or product form whose attributes drive product preference over and above the norm.
Figueroa clarified that the second definition had been created by the seven panelists themselves, and then, amidst updates on the status of species such as mahi, tilapia, sea bass, and barramundi, he curated a discussion on how the panelists arrived at their opinions on how they define “premium” seafood.
“What can we do to position seafood as a premium product?” Figueroa asked the panel. And, more provocatively, he added, “And do we want to?”
James Berger, the director of national sales for Jacksonville, Florida, U.S.A.-based Beaver Street Fisheries, seemed to struggle to answer Figueroa’s question.
“Is premium defined by price? Is it determined by the fact that you can’t find it – that it’s rare? Or is it defined by some stigma due to its cool Hawaiian name or that it comes from South America? I don’t know the answer,” he said.
Figueroa identified seven characteristics that can help define a species as premium: branding, price, sustainability, harvest method, country of origin, story/provenance, and whether it’s local or regional. He also pointed out the fact that harvesters, suppliers, retailers, and consumers each have their own distinct ideas of what defines a species of fish as premium. For harvesters, it could be demand, seasonality, and the labor involved. For suppliers, it could be harvest methods and availability. For restaurants or retailers, price, flavor, versatility, and sustainability play a role. For consumers, price and whether a fish is wild or farmed appear to be the main factors.