Prized in Mediterranean cuisine and highly regarded by European chefs, sea bass and sea bream are coveted for their rich, sweet flavor. But production and price volatility has made these two species, sourced increasingly from Mediterranean fish farms, difficult for U.S. chefs to get a handle on over the past three years.
The Mediterranean sea bass and sea bream industry was crushed by over-production in 2008, with the sea bass and sea bream production topping out at 130,900 metric tons and 140,800 metric tons, respectively, according to the Food and Agriculture Organization. Supply far outstripped demand, and farm-gate prices dropped. In 2009, production fell more in line with demand, but the global economic crisis stifled demand, especially in key markets such as Spain, Italy and Greece.
But, to the relief of Mediterranean producers, farm-gate prices rebounded in 2010 as the economic climate improved and historically high farmed salmon prices forced some European buyers to look to alternative species like sea bass and sea bream. As a result, production this year is steadying and is expected to be on par with 2010, when sea bass and sea bream production reached 99,000 metric tons and 153,000 metric tons, respectively.
U.S. buyers will appreciate the newfound consistency in supply. The two species are favored by high-end chefs, whose customers may be able to weather a price increase.
