Price of Japanese Yellowtail Might Drop In 2023 Due to Oversupply

In 2022, there is a delay in the production of farmed yellowtail in Japan. Farming companies are raising the number of yellowtails for 2023, although it is already expected that prices will drop due to the overflowing supply. The unit price of farmed yellowtail is related to the total amount of saplings two years before farming started. Growing a large number of seedlings will reduce the price after two years because the breeding period for yellowtail farming is about two years. COVID-19 in 2020 has significantly reduced the demand for yellowtail, hence a lot of fish were filling up the cages, and farmers put fewer seedlings in their ponds previously.