Mahi-Mahi… the popular “value tropical fish”, great for tacos and entrees have become “Out of Sight.”

Out of sight for the scores of fishermen looking for the widely desired fish, which has elevated the price to Out of Sight status on a lot of menus.

Several restaurant operators are hanging in there, but more and more have cried “Uncle” and are looking for alternatives to serve their customers.

For the inaugural “Quick Dive” Report, we will look at WTH is going on with Mahi-Mahi.

• What is going on? 

It seems for the last 2-3 years, we have experienced “the worst Mahi catch ever.” Every year has been worse than the last. Warmer waters, changing currents and other weather related phenomena have resulted in poor catch of Mahi… and the Mahi that was caught, for the most part, was either too small to process, or too problematic because of the distance the fishermen needed to go out, causing high fuel costs and longer holding times which pushed up the histamine levels. Over the past couple years, the FDA has rejected large percentages of Mahi coming into the USA, which has hurt the supply even worse. Demand for the fish continued to be strong well into this supply challenge, which has pushed prices way up. Depending on your threshold for specification compliance, need for uniformity and overall quality, portions are going to run from the mid/high $8’s to the high $9’s and even low $10’s… and that is wholesale to the distributor!

Even “Taco” or “Buffet” portions, commonly cut from production by-product is very scarce and has increased in price even more on a percentage basis than the standard portions, loins or sides.

China has been producing some lower priced Mahi, but their catch results in very small portions and pieces with very short supply.

There are two seasons for Mahi: Asian Season that goes from April to June and Central/South American that can start as early as November, but goes into full swing December through March, but slows down in February, In the last few years we have seen much shorter seasons.

Mahi is known as one of the fastest growing fish in the sea, but recently, the “big ones” have been elusive. There is Mahi out there, but it is smaller and less abundant which has driven these prices way up… double what we saw 2-3 years ago.

• What does it mean to you?

The shortage and uncertain supply have dramatically increased prices. If your menu absolutely needs to have Mahi on it, then you are seeing higher food cost percentages for the plate. If you have a tough time moving your menu price, Mahi is going to provide a much lower plate profitability or even show a loss. That is not ideal. Mahi pricing is not expected to retreat to prices of 4 years ago… ever. There are operators willing to pay the price and the fishermen and primary packers know it, so they are not going to be so eager to move lower. The price for Mahi is going to stay relatively high… maybe not as high as it is now, but certainly higher than we are comfortable paying.

There is Mahi if you need it, but you are going to pay.

• What can you do?

Fortunately, there are other fish in the sea. You have alternatives for Mahi… and you can also change portions sizes to reduce cost, or even de-emphasize Mahi on the menu by surrounding it with other options, thus elevating average plate profitability across your menu. Here are some of your options…

• Reduce Mahi Portion Sizes – We have helped certain customers by reducing portions sizes. Commonly, Mahi portions are sized 8oz, 6oz, and 4oz. We have been able to cut 7oz for our 8oz customers and 5oz for our 6oz customers who have opted to keep Mahi on this menu. We have also been able to do certain dimensions or “Long Cuts” for customers that want to maintain a certain plate coverage while mitigating their plate cost.
  • It is important to realize that very few processors cut this tight. It is an extreme longshot that any overseas processor can do this with any acceptable level of consistency. IPS is known for this type of cutting. Our size ranges are +/- 0.5oz which are tighter than industry standards.

• Alternative Types of Fish – We have been able to provide alternatives for many of our customers who find the price of Mahi to just be too high to manage on their menu. Here are a few of the more popular alternatives… a few of which are rather surprising.
  • Wahoo/Ono (Wahoo and Ono are the same fish – The common name is Wahoo, but it is also known by its Hawaiian name Ono, which means “delicious”) – Wahoo is the most common alternative for Mahi because it looks like Mahi and is a tropical fish. 
  • Wahoo is about $2.00 per pound less than Mahi. The price has firmed up because of higher demand, but it is still well under Mahi.
    • There are many operators who have a hard time with Wahoo because it is leaner than Mahi. The cooks want to cook it the same as Mahi, but Wahoo cooks up more like Halibut so if you cook it as long as Mahi, it can become dry and a little tough.
      • We have been able to overcome this by training the staff and helping them understand that Wahoo is “The 5 Minute Fish!” Brushing Wahoo with Olive Oil and Seasoning, Grilling it 2.5 minutes per side (for an 8oz portion) will result in a fabulous eating experience. This method has been tested time and time again. The trick is to make sure the line cooks trust the timing and don’t over cook it.
      • The Wahoo in this picture are Wahoo Sticks, cut specifically for Tacos, but many operators are using them for Salads and other “stackable” menu ideas

Barramundi – This fish was a bit surprising to a lot of people, but there are some very popular chain operators across the country that have moved to Barramundi and have no intention of going back.

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  • Like the other alternatives, Barramundi pricing is well under Mahi… about $1.50 per pound under. It is a mild fish that takes on any flavor you want to give it with spices or sauces.
  • The best Barramundi we have worked with by far is Australis (www.thebetterfish.com). They are doing some very innovative things and are at the forefront of sustainability and responsibility. Australis Barramundi is a farmed fish, but they operate under the highest standards in the global aquaculture arena.
  • News Flash! – Australis has just started to produce Taco Strips! They are amazing… perfectly sized for tacos or wraps and in pricing parody with the better Mahi byproduct sold today. We have tried their strips. They’re a winner.

Swordfish – Yes, Swordfish! Can you believe Swordfish is cheaper than Mahi? It is… by about 2 bucks per pound for a standard portion.

• Swordfish, especially the Sashimi Grade (They just call it that because of the catch method, you can’t eat it raw) out of Singapore has a consistently sweeter and milder flavor than other origins is gaining in popularity again. The catch method is Singapore is much more conducive for a better performing Swordfish. The price of Mahi versus the relatively low price of quality Swordfish has been one of the main reasons our customers are considering and even switching to this premium seafood for several applications.
  • Swordfish has such a high-value perception that serving Swordfish in place of Mahi has really elevated some menus… “Swordfish Tacos? Wow! You have really upgraded!”
    • It is important to note, All Fish Are Not Created Equal. High-quality Swordfish out of Singapore is something you will be able to trust day in a day out… on every plate, platter or taco you serve. Minimal bloodline and a beautiful pinkish hue (like in this picture).

• Albacore – Sashimi grade South Pacific Albacore is becoming another popular alternative to certain Mahi applications. Another fish that is $2.00 per pound less than Mahi with a high-value perception. 
• Mild and versatile, Albacore is a leaner fish like Wahoo, but when seared or cooked medium rare, it is great as an entree, for tacos, salads, and sandwiches (we cut a 1/2″ sandwich cut Albacore for certain customers)
  • Albacore is becoming a staple on menus at seafood and casual dining operations.

This turned out to be a longer “Quick Dive than I anticipated, but I wanted to make sure you know that you have options… amazing options, for the high priced Mahi you have been forced to deal with for the last couple years.

If you would like to get more information or samples of our special cut Mahi portions or the alternatives discussed above, please give us a call (866) 360-FISH (3474). We are eager to help and serve.

To Your Abundant Health,

Jeff Moore
President, International Pacific Seafoods
jmoore@internationalpacific.com
o: (866) 360-FISH (3474)
c: (714) 936-5302