Production growth and consumption slowed, and the price of Japanese bluefin tuna plummeted 20%

Published 2024년 3월 13일

Tridge summary

The wholesale price of imported frozen bluefin tuna in Japan has significantly dropped in January due to decreased demand for tuna sashimi in Asia, particularly in Japan, South Korea, and China. The increase in domestic tuna farming and the recovery of wild bluefin tuna stocks in Japan have also contributed to the price drop. Despite the lower prices, there hasn't been a significant increase in consumer demand. The Japanese tuna industry is now eyeing the Chinese market, following an agreement between China and Malta that allows Maltese tuna farmers to directly enter the Chinese market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In addition, the wholesale price of imported frozen bluefin tuna in January was 3,394 yen/kg ($22.3/kg), a sharp drop of nearly 1,000 yen/kg from the peak in December 2022. According to monthly data from the Japan Fisheries Information Service Center, the temporary wholesale price of frozen bluefin tuna at Tokyo Central Market including Toyosu plunged further to 3,084 yen/kg (domestic and imported fish combined) Wholesalers at the Toyosu market said "price declines are much larger than what we saw when Lehman Brothers collapsed in 2008, and the retail market has slowed down." The research house's weekly retail report showed that chu-toro (medium-fat tuna) sashimi imported from Malta retailed at 798 yen ($5.32) per 100 grams in Tokyo supermarkets in February. Compared with December 2022 Compared with 1,280 yen, the drop is even greater, about 40%. Japanese customer data highlights a sharp decline in frozen bluefin tuna fillets from Malta, one of the largest tuna farms in the ...

Source: Foodmate