Copper salmon fetching a gold price

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Wednesday, May 17, 2006

Copper salmon fetching a gold price
King fillets are topping out at nearly $37 a pound

By HSIAO-CHING CHOU
P-I FOOD EDITOR

(Editor's Note: This story has been altered. The original version of this story misstated the increase in price paid to fishermen for Copper River salmon this year over last.)

It'll take a king's ransom to liberate a piece of the most famous king salmon in the land.


		Paul Joseph Brown / P-I
	Alaska Airlines cargo manager Matt Yerbic passes a Copper River king salmon to Tom Sunderland of Ocean Beauty Seafoods.

Consumers have always been willing to pay a premium for Copper River king salmon from Alaska. But with first-of-the-season prices for king fillets fetching as much as $36.99 per pound -- retail -- some sellers worry that customers may abstain from the fish known for its silky texture and rich flavor.

The 2006 Copper River salmon season, which opened Monday, may set the record for the highest prices in the fish's illustrious history.

Usually, retailers and restaurants celebrate the salmon with promotions, sending out notices before the arrival of the fish and even competing to see who can bring back the first king. This year, there was nary a promotional peep after projections for the season promised a low catch and increased demand, which would jack up the prices.

For the first day, fishermen received up to $7 per pound for whole king salmon and around $4 for sockeye. The price paid to fishermen in 2005 was $5.90 for kings and $3.90 for sockeyes.

Wholesalers, in turn, passed on the higher cost to their clients, who have had to cough up between $17 to $20 per pound for whole king salmon. After retailers and restaurants butcher the fish into fillets and steaks, the cost to the consumer has reached $28 to $37 per pound for Copper River kings. In 2005, the average cost of the king fillets was around $25.

Logina Parente, director of seafood operations at MJ Meats and Seafood, said that in her 20 years in the business, she has never seen a year like this.

"It's frustrating," Parente said, "but the cost is up across the board."

She explained that air freight fees have gone up 15 to 20 cents per pound. Rising fuel costs have caused airlines to cut the number of their flights and to reduce the cargo space per flight available to ship fish from Alaska and across the country.

"But people still want the fish," Parente said. "They still appreciate a high-end wild salmon."

Factors that contributed to the low initial catch include icy waters and newly enacted restrictions that limit the number of openings in certain fishing areas. The demand has increased in part because the Oregon and California salmon fisheries have been shut down this season for conservation reasons.

There has been resistance among buyers, though.

Some Seattle businesses, including Mutual Fish, Uwajimaya and The Oceanaire Seafood Room, have chosen to wait a day or two in hopes prices will drop.

"I thought last year was expensive," said Harry Yoshimura, who owns Mutual Fish. "Copper has been expensive for the past five years, and the price keeps going up."

Yoshimura, who believes many of his customers will take a pass on buying Copper River salmon, added that prices probably won't drop much, if at all.

"They've marketed this fish to the point where there's a huge demand," he said. "It's all over the country and people gotta have it. Some have to have it at any cost."

Metropolitan Market at Admiral pre-sold most of the first delivery of salmon. By Tuesday afternoon, there were customers waiting in front of the seafood counter eager to pick up their pieces of fish -- at $29.99 per pound for kings and $21.99 per pound for sockeyes.

Diners have been calling Ray's Boathouse since early last week asking for the fish. While selling Copper River salmon doesn't yield the profits the restaurant typically expects from an entr�e, the fish will remain on the menu for as long as it's available.

"Copper River salmon sets the standard for the entire salmon season," said Charles Ramseyer, executive chef of Ray's Boathouse.

A dinner portion of Copper River king fillet costs $38 at Ray's Boathouse. Customers can order sockeye salmon in the upstairs cafe for $21.99.

Lane Hoss, of Anthony's Restaurants, offered this analogy: "There's a price people will pay for Leonetti cabernet sauvignon and there's a price people will pay for other Washington cabs."

Copper River salmon is a Leonetti.

At Anthony's, a dinner entr�e of Copper River king salmon runs $38.95, with salad or chowder. Sockeye is $34.95.

Whether the fish is worth the hype is up for debate. No one denies that it is a high-quality fish that tastes delicious.

But there are other salmon in the sea.

P-I food editor Hsiao-Ching Chou can be reached at 206-448-8117 or hsiaochingchou@seattlepi.com.

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