How Much Does Bluefin Tuna Cost

Prized for its fats, the Bluefin tuna is in high demand by the Japanese sushi restaurants.  Despite the dwindling numbers, the demand is still high. In fact, every year chefs and restaurateurs bid on the first freshly –caught Bluefin tuna. However, it’s more of a publicity stunt to drum up support for the commercial viability of their restaurants rather than a tradition.

Average Bluefin Tuna Cost

On January 5, 2017, a 466-pound Bluefin tuna sold for $632,000 at the annual auction held at Tokyo’s Tsukiji market which could be its last. Basically, it costs $1356.22 per pound.

Moreover, there are three species which have varying Bluefin tuna prices.

• Pacific Bluefin Tuna

It is a predatory Bluefin tuna common in the waters of the Northern Pacific Ocean. It is migratory and due to overfishing, is close to being declared as Threatened by the  International Union for Conservation of Nature (IUCN). In 2014, it cost $138.07 per pound when the first 507-poundPacific Bluefin tuna auctioned at Japan’s renowned Tsukiji market over the weekend was sold at $70,000.

• Atlantic Bluefin Tuna

Along with the Pacific Bluefin tuna, this is among the prized fishes for Japanese sushi restaurants. In 2008, it sold for US$15,400 at the popular Tsukiji fish market in Tokyo.

• Southern Bluefin Tuna

    Price for this other tuna favorite is $3.84 to $20.46 per pound. So far, the largest consumer of the Southern Bluefin Tuna is Japan, followed by the USA and then China. It is a gourmet food that is in demand for sashimi and sushi. It has medium flavored flesh which is regarded by chefs as the best raw fish to eat.

Bluefin Tuna Alternatives

With renewed calls for the conservation of these species as they are being considered as threatened or nearing endangerment, chefs have pitched in by looking for alternatives which are still in abundance.  This affects Bluefin tuna price per pound since eventually, the need for those species for sashimi will be diminished.

• U.S. Pacific Yellowfin

    A great Bluefin tuna substitute described by chefs as “having a very clean flavor”. It has a bright red meat which is great for sashimi and also in salads and sandwiches. It costs $29.99 per pound.

• Albacore Tuna

A fish coming from farther North where it builds a bit of fat that gives it a rich smooth texture. A mature Albacore Tuna averages at 16 pounds each. Moreover, it retails between $2.59 and $2.99 per pound.

• Hawaiian Opah

It is also known as moonfish and has a higher oil content than salmon. This characteristic enables it to be perfect for any number of preparations including sashimi. It sells from $16.95 to $41.95 per pound which is way lower than the average Bluefin tuna cost.

• California Yellowtail

Another Bluefin tuna alternative with a “clean and mild flavor” and a high oil content. It’s available for $19.95 to $ 45.99 per pound.

• Kindai Tuna

This is a program which culture Bluefin tuna in farms developed by the Kinki University in Japan in 2002. Unlike other aquacultures, where Bluefins are raised from young caught in the wild, which further diminishes their population, Kindai tuna are raised from eggs. The process is known as closed cycle farming wherein eggs are extracted from other lab-grown fishes which reduce the chance of overfishing. Its meat cost $40 to $50 per pound.

Factors affecting Bluefin Tuna Population Decline

  In a study conducted by the National Marine Fisheries Service of the National Oceanic and Atmospheric Administration, they outlined factors which have in effect in the decline of Bluefin Tuna Population.

    These are as follows:

• The present or threatened destruction, modification, or curtailment of habitat or range

• Petroleum Exploration and Development

The disturbance brought by the activities and wastes consistent in petroleum exploration developments has a significant effect in the areas where Bluefin Tuna are known to haunt. In the long run, habitat destruction can have a significant effect on Bluefin tuna prices. Moreover, accidents like oil spills similar to the Deepwater Horizon (DWH) oil spill in 2010 underscores that concern. 

• Main Pass Liquefied Natural Gas (LNG)

The water use associated with the extraction of Liquefied Natural Gas subjects early life stages of marine species potentially causing the annual mortality of hundreds of billions of zooplankton and other food sources for the Bluefin Tuna. This could have a negative impact on the habitat of this marine denizen.

• Wetland loss

A cumulative impact that results from activities related to coastal development which directly affects the habitat of the Bluefin Tuna and other marine life.

• Nutrient enrichment

Increased nutrient contents in coastal waters results to changes which can stimulate excessive algal blooms or dinoflagellate growth that can lead to increased turbidity, decreased dissolved oxygen, and changes in community structure. The waters should be observed for nutrient content increase which has adverse effects on the normal water condition for the marine community in the area.

• Overutilization for commercial, recreational, scientific, or educational purposes.

Recent data shows that the population of the Bluefin Tuna has declined by roughly 97% from its remarkable levels due to overfishing. This decline had somewhat affected the Bluefin tuna price per pound. Scientific assessments in the North Pacific Ocean by the International Scientific Committee for Tuna and Tuna-like species result to the discovery of the current “unfished” population which is to be at 2.6%, a drastic decrease from the already low 4.2% in a previous estimate.

• The inadequacy of existing regulatory mechanisms

Despite regulatory mechanisms, overfishing of Bluefin Tuna is still unabated. This is especially due to the fact that these species are highly migratory and hence are subject to varying laws of the countries which they might be in a particular season. Hence, Bluefin tuna cost is dependent on the supply of these sashimi grade tuna.     

Conclusion

    If more concrete actions are not implemented by the concerned governmental agencies, time will come that the Bluefin Tuna, the three species specifically; The Pacific Bluefin Tuna, The Atlantic Bluefin Tuna, and the Southern Bluefin Tuna, will be extinct in the next years to come.