The global bluefin tuna market is experiencing price declines

Published 2024년 3월 27일

Tridge summary

The wholesale prices of bluefin tuna, both fresh and frozen, have seen a significant decrease at Tokyo's Toyosu market, with fresh tuna prices dropping 23% from their August 2023 peak to US$24.4 per kg, and frozen tuna prices declining by nearly US$6.6/kg since December 2022 to US$22.3/kg. This downturn is largely due to a fall in consumption in major Asian markets such as Japan, South Korea, and China, leading to a 40% reduction in retail prices for chu-toro sashimi since December 2022. Additionally, the average import price of Maltese bluefin tuna fillets has halved to US$13.08 per kg year-on-year, influenced by decreased purchasing power in South Korea, prompting potential re-exports of Mediterranean tuna to Japan.

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

Original content

The wholesale price of imported fresh bluefin tuna at Tokyo's Toyosu market has fallen 23% from its August 2023 peak, reaching US$24.4 per kilogram (kg). Similarly, the wholesale price of imported frozen bluefin tuna fell to US$22.3/kg, representing a decline of nearly US$6.6/kg from the December 2022 peak. Data from the Japan Fisheries Information Center (JAFIC) indicates a decline in consumption of frozen bluefin tuna. This trend is reflected in retail prices: in February, chu-toro sashimi (medium-fat tuna) imported from Malta was sold in Tokyo supermarkets for US$5.32 per 100 grams, a significant 40% reduction on prices December 2022. Consumption of bluefin tuna sashimi has declined in major Asian markets including Japan, South Korea and China. This is also reflected in the 50% year-on-year decline in the average import price of Maltese bluefin tuna ...

Source: Fishretail