Supermarket Perimeter - May 2022 - 64

Seafood: Navigating fluid markets
50% higher than two years ago. " Seafood prices may spike further amid
Russian sanctions, with particular impact on crab, cod and Alaskan
pollock, according to 210 Analytics Principal Anne-Marie Roerink.
The tilapia price conundrum
While tilapia sales dropped significantly in March and over the last year,
that is primarily the result of inflation on Asian tilapia, with wholesale
prices on frozen imported tilapia from Asia rising 100% over the last two
years, according to Oliver.
However, that price inflation led Giant Eagle to carry more " high
quality " tilapia that is also closer to the US and is not facing the same
transportation costs as seafood from Asia, according to Oliver. It
increased SKUs of Miramar, Fla.-based Regal Springs' tilapia, which are
raised in deepwater pens in lakes in Honduras and Mexico, as well as
the Indonesian 'Ring of Fire' in Lake Toba.
Differentiating its premium product, Regal Springs said on its website
that, " Our tilapia race and dart against currents in deepwater pens,
building a firm and healthy body, not like fish reared in shallow muddy
waters, which just taint their flesh. "
The supplier has obtained both Aquaculture Stewardship Council
(ASC) certification and Better Aquaculture Practices (BAP) certification
for its fish.
The " premium " tilapia has been moving very well at Giant Eagle and
is now the highest percentage growth item in the seafood department,
according to Oliver.
64 - MAY 2022
" We have been given an opportunity to promote it for several months
and will promote throughout summer. It has been moving very well for
us and will continue to move well. "
Although " cheaper " products have increased in price and sales have
declined, sales on certain premium seafood items, such as Regal Springs
tilapia, are rising.
" I think you will find the premium products are greatly increasing as
they are becoming more affordable, " Oliver said.
More tilapia will also be available eventually, as US-based aquaculture
firm Fishin' Company said it will invest ₹1,000 crore in India to
establish a fully integrated freshwater fish culture ecosystem including
hatcheries, feed manufacturing, cage culture, processing and exports.
The massive facility is expected to produce 85,000 tons of tilapia
annually.
Salmon, trout make headway
Despite the decline in sales of certain fish and shellfish, there are bright
spots, as salmon sales continue to soar (up 9.9% in March), along with
flounder and trout.
Trout realized a sales hike of 1.1% in March and 4.6% over the last year.
Giant Eagle has realized an increase in trout sales, according to Oliver.
While prices are up slightly due to inflation, the fish is still competitively
priced and continues to produce strong sales, according to Oliver.
" In the last year, it [trout] has definitely increased in sales, " said
Todd English, vice president of sustainability for Boise, Idaho-based
supermarketperimeter.com
NICKOLA_CHE - STOCK.ADOBE.COM
Inflation, supply
chain headaches
and other factors have
brought higher levels
of uncertainty to retail
seafood markets.
http://www.supermarketperimeter.com
Supermarket Perimeter - May 2022

Table of Contents for the Digital Edition of Supermarket Perimeter - May 2022
