What makes caviar so expensive?
How expensive an item is, relative depending on its context. Due to caviar’s rarity, its pre–harvested form takes many years to mature and curate. The most expensive type of caviar goes by the name Albino beluga sturgeon roe, harvested from the Caspian Sea. It has a cream-white color distinguishes it as a rare type of caviar. The caviar subsequently retails for as high as $35,000 per kg. Let us observe what determines such pricing;
The availability of fish- Sturgeon is a wild-caught species of fish that produces the eponymously named Sturgeon caviar. Among all the types of caviar, it is the most expensive. Why so? Two factors determine this;
Its located in vast Russia. Over the 20th century, the population and supply of the species rapidly decreased primarily due to its rarity, and catching it became increasingly profitable due to supply and demand. Prices automatically shot up. Due to the lucrative fishing business, the Russian government eventually put incentives in place. Incentives make it more difficult to carry out activities freely, thus rendering resources rarer. Poaching has become lucrative for bootleg fishermen. They carry out these illegal activities, for self benefit, driven by greed. As a result, the government regulations became instrumental in influencing the exceeded scarcity of the species. The final price of the commodity encompasses all these factors.
The duration of production- The time taken for the eggs to come to maturity influences the appropriate duration applied to choose the final product. In any production activity, we link its final form to the time needed to establish it. In their natural habitat, Sturgeon fish have a difficult time surviving up to maturity due to their slow pace of growth. Additionally, female Sturgeon take time to fully develop sexually, which is the only way they can efficiently produce eggs. Subsequently, this takes a toll on how they effectively replenish their population. This duration is not only time-consuming but financially consuming, which can lead to losses by farmers without returns on investments. Fortunately,farming strategies enabling the development of technology and aqua farming resulted in the domestic rearing of the Sturgeon species alongside other species of fish such as Beluga, trout, and salmon. The quality of the eggs- The type of fish and its unique characteristics influence the quality of its eggs. Farmers classify the different fish into grades that assist in determining their price. These grades include; egg color, maturity, size, and flavor. Specific standards are applied to distinguish the best quality caviar from the lacking ones. The next step is curation and salting, where the eggs are again analyzed to attain the best product. The term used to describe the best final batch of eggs is the royal or supreme grade. Its qualities include; its large grain size, firm but delicate texture, rich color, and intact smell and taste. Manufacturing- After harvesting the eggs, farmers wash and inspect the fish for the processing which costs time and money. Early on, the potential sexual maturity of the female fish singles them out, facilitating their eventual harvest. Because they are raw, caviar eggs are perishable. If not harvested in the correct way or time, they are rendered useless. The eggs must be kept sterile during the cleaning process to avoid contamination. Salt is afterward applied to act as a preservation tool. Market supply and demand-Supply and demand determine the final price of any product in an economy. Due to its elite connotations, the supply of Sturgeon fish is low. Nevertheless, its demand is relatively high. The result is its high prices, amounting to around $700-1000 per ounce. As mentioned earlier, the development of aqua farming allows for the farming of newer species, raised to reach potential standards. Due to their faster maturity and sexual development rate, this makes them a better investment for farmers. In addition, sacrificing the quality of the fish is not an option. Caviar is a dish still associated with the extremely wealthy due to its status and unique taste.
The world is certainly more global today, so the increase in popularity is imminent. Due to this, the diversity and sale volume of the product has increased over time which is ultimately good.
Conclusion
We can attribute the determination of value for caviar to its rarity, harvesting methods, the type of fish caught, and its quality. Wild-caught fish costs more to rear and harvest hence its high regard. On the other hand, commercial-based fishing results in lower-end caviar production. None is inherently better or worse than the other, but the final quality greatly determines the dishes’ status. Cheaper versions are thus labeled as inauthentic. It is interesting to observe that today, despite the time taken to produce it, good quality caviar is still revered and popular.
