Strong Japanese bluefin catches see prices dip

A high number of bluefin tuna catches this year are causing prices to drop in Japan, reported the Nikkei index

The strong tuna catch this year is giving retailers a chance to promote the fish. (Image Source: tangysd/Flickr)

Fishermen across Japan delivered 684 mt of fresh bluefin tuna to Tokyo's Tsukiji fish market last month, up eight per cent from a year earlier and the most since June 2008.

Wholesale prices at times during June were roughly 30 per cent cheaper than a year ago. Many bluefin tuna was traded for around US$9.76 per kg, or about half the average rate a year before.

According to the report, major ports in Japan have seen catches rise 50 per cent from the year-earlier period during the first five months of 2016.

Before this surprising turn of events, the tuna market in Japan was actually facing decline in consumption even while there was a steep rise seen on Japanese restaurants overseas.

Kyokuyo executive Taro Kawamoto said, “Japan should export technologies together with Japanese cuisine to respond to expanding demands of Japanese food overseas.”