Seafood Business

Squid

Steady supplies from around the world make this mollusk a perennial bargain

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At a glance

Although many Americans still squirm when they think of eating squid, slowly but surely, we’re becoming a nation of squid eaters. Even Red Lobster, that safe harbor of middle- American cuisine, now has squid on its lunch and dinner menus.

Of course Red Lobster, like almost every other restaurant, still takes cover under the name calamari, believing diners are too squeamish to order this ubiquitous mollusk as squid, though it’s eaten in almost every coastal country around the world.

Since 1996, U.S. imports of squid have headed in one direction: up, from 27,600 metric tons to 47,600 metric tons in 2001. It’s easy to see why more restaurants are clamoring for calamari. It’s all about food costs.

A pound of high-quality cleaned tubes and tentacles runs about $2.50. Restaurants can take 3 ounces of squid, which costs less than 50 cents, and charge $6.95 or $7.95 for it breaded or battered as an appetizer.

“That’s a pretty good margin,” says one Los Angeles chef, who notes that people who would never order a whole dinner of fried seafood have no problem ordering an appetizer of fried calamari.

Dozens of countries are now exporting squid to the United States. The biggest supplier is Asia, where squid from all over the world is reprocessed into a variety of products, including cleaned tubes and tentacles and steaks. China, the single largest supplier of squid, accounts for about one-quarter of all U.S. squid imports, followed by Taiwan, India, South Korea, and Thailand.

Fewer than a dozen species of squid account for almost 90 percent of the world production. Squid can be conveniently lumped into two families: Ommastrephidae and Loliginidae. Of the two, the loligo species, which account for about 20 percent of the world catch, are

generally preferred because they are considered more tender. As a rule, squid belonging to the Ommastre-phidae family are larger and have a tougher membrane, which gives them a more coarse texture.

One of the largest loligo fisheries in the world takes place off the coast of California, where seiners haul in more than 100,000 metric tons of California squid (Loligo opalescens) in a good year. A small squid,

the California variety weighs

between 2 and 3 ounces.

The Northeast United States has a medium-sized fishery for a larger loligo, L. pealei, which produces landings of between 15,000 and 20,000 metric tons a year. A slightly larger squid, commonly called longfin, “Boston” or winter squid, pealei runs between 4 and 6 ounces. Large quantities of both these species are exported to Europe and Asia.

The two largest squid fisheries in the world are for Argentine squid (Illex argentinus) and the Japanese flying squid (Todarodes pacificus). Landings from each of these fisheries can exceed 400,000 metric tons in good years. Both species are used to produce steaks, which are cut from the squid’s mantle.

Most squid steaks are tenderized using either a mechanical tenderizer, such as a cube-steak machine, or an enzyme extract made from fruits like papayas or pineapples.

Supply outlook

Because squid are fished around the world, there is rarely a shortage. Generally, squid are always readily available from somewhere. They are short-lived animals, and catches of some species fluctuate wildly from year to year, depending on environmental conditions.

Harvests of California squid, for example, collapsed from 70,000 metric tons in 1997 to less than 3,000 metric tons in 1998 before rebounding to 90,000 metric tons in 1999 due to an El Niño.

California fishermen landed 85,000 metric tons of squid in 2001. Through July they had landed 40,000 metric tons, which puts them on track for another average year.

New England fishermen landed almost 15,000 metric tons of winter squid last year, the lowest catch in five years. Fishing this year has also been disappointing, processors say.

But imports of squid keep rolling in. Through May, imports were up another 18 percent, to 21,000 metric tons. The biggest increase was in imports from China, which jumped 30 percent, to 5,700 metric tons. Almost all Chinese squid is reprocessed product, including large volumes of California squid.

Price trends

Squid remains a great buy, as good supplies keep pressure on prices. This summer, cleaned tubes and tentacles could be purchased from importers for anywhere from $1.10 to $1.85 a pound. The cheapest squid was small (3- to 5-inch) product from China, while large (8- to 12-inch) tubes from Thailand were at the high end. Squid steaks were selling to distributors for $2.45 to $2.65 a pound.

Look for prices on frozen squid to remain at these levels through 2003. Prices for fresh squid, however, will fluctuate, depending on landings. This summer, fresh loligo squid from Rhode Island was averaging about 75 cents a pound at New York’s Fulton Fish Market.

Buying tips

With squid so cheap, it pays to shop at the high end of the price range to ensure the best quality. Ask your suppliers what their best brands are, cook them up and compare. Once you find a label that works for you, stick with it.

High-quality squid should have white skin and no odor. Poor squid has a reddish tinge to its skin and, in the worst cases, an ammonia smell.

Illex species normally sell for a substantial discount compared to loligo. If you cook them very quickly (about half the time of loligo), they can be almost as tender.

Culinary notes

Japanese restaurants grill squid and serve it with a fresh ginger sauce. At Kinkead’s in Washington, D.C., Chef Bob Kinkead serves it grilled, with creamy polenta and tomato fondue.

Squid Row Restaurant in the Florida Keys gives squid the most unique treatment. For $19.95, you can order caramel-coated tentacles.