Saving Seafood

Scallops poised to jump back on US casual restaurant menus

January 28, 2018 — MIAMI — Previously deemed to be saddled with prices too volatile to offer at casual restaurants in the US, look for scallops to come back on menus in 2018, predicts Sean Moriarty, vice president of sales for Blue Harvest Fisheries.

Good luck finding Atlantic sea scallops at the types of sit-down dining establishments Americans most often frequent, like Olive Garden, Applebee’s or Outback Steakhouse.

The price of the shellfish have proven too lofty and volatile for such major chains to take the risk. But that could change soon as the global supply of scallops promises to reach an epic high in 2018, pushing prices to a more affordable range.

“I think the domestic consumption should continue to increase,” said Moriarty Wednesday during a panel on bivalves at the National Fisheries Institute’s (NFI) Global Seafood Market Conference, in Miami, Florida. “I think, especially in 2018, you’ll see a push to get back on the menu, not just in appetizers but in the center of the plate.”

Moriarty’s vertically integrated New Bedford, Massachusetts-based employer — one of the US’ top five producers of Atlantic sea scallops with 15 vessels operating in New England — will be among those rooting for more restaurants to join the scallop party.

Along with few abrupt changes in recent times – including a sudden drop that followed a glut of landings in May 2017 — scallop prices have grown overall since 2011, according to Urner Barry figures shared by Moriarty at the event.

Read the full story at Undercurrent News

 

Prices diving for largest US scallops

May 12, 2017 — US fishing vessels have been landing lots of larger scallops since fishing started in March, bringing prices down rapidly.

So far, landings have been largely U10s and 20/30s, a source with a large New Bedford, Massachusetts-based buyer told Undercurrent News.

“At today’s auction we saw a lot of U10s. Daily catch rates have started high and with plenty of large scallops,” the source said.

Prices at the New Bedford auction illustrate this.

Early in April (April 10), prices were as follows, according to information seen by Undercurrent:

U10s caught in the Nantucket Lightship scallop access area went for an average $16.96 per pound; U12s from the same grounds for $16.66/lb; 10/20s from the Elephant Trunk flex access area sold at $9.63/lb; and 20/30s from the Mid-Atlantic access area went for $9.38/lb.

By April 26 these were down across the board: U10s down 4% at $16.31; U12s down 8% at $15.38/lb; 10/20s down 6% at $9.07/lb; and 20/30s down 6% at $8.80/lb.

However the real drop has come in May. On May 11 these corresponding prices were down, compared to April 10:

U10s by 19%, to $13.70/lb; U12s by 25% to $12.50/lb; 10/20s by 22%, at $7.51/lb; and 20/30s by 20%, at $7.47/lb.

“The catch rates have been outstanding,” a second source, who works at a fishing company, told Undercurrent. “So, people are trying to figure out if we are going to have 50-55 million pounds, which is a lot more than we have been getting.”

Read the full story at Undercurrent News