Gulf Coast Oil Spill likely to hit consumers hard at the grocery store
Tuesday, May 4th, 2010From www.shoppingcarteconomist.com
May is typically a month I look forward to because it means fresh fish right out of the ocean. Fish is one of the healthiest animal protein sources, and one many Americans just don’t get enough of in their diet. Price is always the biggest factor for most shoppers as it relates to consumption. If fish is expensive, people will pass on it and look for cheaper protein sources.
However, Alaska fish are starting to run. May marks the beginning of King Salmon and halibut seasons. That means that there will be fresh goods heading to a store near you. It also means that previously caught salmon from last year’s season will be on sale. But, those sales aren’t going to last very long. If your family is a big consumer of fish, this might be the week to fill your freezer. Here’s why….
With the oil spill off the Gulf of Mexico, the Gulf seafood market is at a stand-
still. The US government imposed a 10-day ban on fishing in the Gulf as they assess what kind of risk, both current and long-term, the oil spill will have on the health of not just fish and wildlife, but on those who consume Gulf coast harvests of fish, shrimp, and oysters. According to NOAA, the National Oceanic and Atmospheric Administration, the Gulf Coast fishing economy harvests about one-billion pounds of seafood a year. A 10-day ban on fishing is essentially 27-million pounds of fish that are going to be out of circulation. It’s not clear that the ban will be lifted after 10 days. So for every day Louisiana fishermen’s boats are out of the water, an average of 2.7M pounds of fish will not make it to US grocery stores.
As existing inventories get used up and supplies are depleted, it will likely put pressure on other regions like the Pacific and Atlantic coasts, as well as imports from Thailand and China, to fill the shortages.
It’s early into a catastrophe like this, and the oil spill drama is still unfolding. Scientists and fishermen alike can’t predict how the region and the fishing economy are going to be affected. It won’t be until they come out with some clear damage assessments that we’ll begin to see “shortage” reports on the news. So, in advance of what might be a likely outcome, my suggestion if you’re a big fish-eating family would be to bank some now in your freezer.
What to buy? Look for deals on sockeye salmon. Whole salmon is always a better deal than fillets. Buy the whole fish and have them cut/wrap the fish for free instead of buying the higher-priced, pre-cut fillets. Avoid farm-raised Atlantic salmon, even though it might be a bit cheaper. Wild is better for the fish runs, and better for you.
It’s also a perfect week to shop for seafood, because with Mother’s Day right around the corner, many chain stores advertise fresh seafood for “surf & turf” dinner promotions. That means there are fish, scallops, lobster tails, and shrimp on sale that were planned and ordered well before the oil spill in the Gulf.
It’s clear how one incident like a single oil spill can have far-reaching implications for those of us who might otherwise feel no connection to such an event. Sadly, in this instance, an oil spill thousands of miles from many of our homes isn’t just going to affect the environment, or the livelihoods of those who fish the Gulf Coast, but the consumers. In this economy, many people are already struggling to put food on the table. If the price of seafood likely climbs as a result of this disaster, a healthy protein source for many families will soon be out-of-reach.
