Thursday, January 12, 2012

Bluefin Tuna sells for $736,000 in Japan!



All across the globe and Nihon-koku (Japan) headlines and news reports beam the sale of one Bluefin tuna for the hefty price of $736,000 for a 593 pound tuna. That interprets to around $1,238 per pound.

That event is not normal in the Bluefin tuna market. The price of Bluefin tuna is set on the world market, much like oil (petroleum) and averages around $9.00 a pound. This event was the result of the first auction of the year. Also it provided millions of dollars’ worth of free publicity for the restaurant who paid the $736,000.

The restaurant chain Suchi-Zanmai for their $736,000 received in return millions of dollars in free publicity, and a 593 pound Bluefin tuna. This news was broadcasted all across Japan both in print and electronically (radio, television, and Internet news reports).

So-called animal rights groups who are in actuality anti-capitalist claim the Bluefin tuna stocks around the world are in danger. However looking at the reports linked below the opposite seems to be true. Around 80% of Bluefin Tuna caught around this planet are shipped to Japan. Once received in Japan, the Japanese keep precise records in an attempt to maintain the sustainability of this food source.

News article about this Bluefin tuna sale:
http://www.usatoday.com/news/world/story/2012-01-05/japan-pricey-tuna/52384098/1

Link to the SAFE report which details average historical sales prices per pound on table 5.2, page 135. This is a NOAA report.
http://www.nmfs.noaa.gov/sfa/hms/Safe_Report/2011/CHAPTER%205.pdf

ICCAT met this past November to discuss migratory species including Bluefin tuna. The following link describes the progress made at that meeting and will help give you an idea of the extent the stock recovery.
http://theabta.com/Nov19PressRelease.pdf

2 comments:

Dirk said...

Wow you must be drunk... Bluefin is in a huge decline. Every marine biologist that is not on the take has conformed this.
WTF about the prices that does not make sense, the higher the price the more demand to fish it until you get over supply and the price lowers.
Come on man you know how this works!

Dirk said...

Wow you must be drunk... Bluefin is in a huge decline. Every marine biologist that is not on the take has conformed this.
WTF about the prices that does not make sense, the higher the price the more demand to fish it until you get over supply and the price lowers.
Come on man you know how this works!