A Tokyo-based importer of U.S. bluefin said fresh prices have been consistently quite high from around late November to early December. However, the fresh market is affected by many factors, so prices can sometimes be lower, even in a generally tight market.
For example, buyers do not like to add inventory near the end of the month, as the billing period closes at month’s end with payment due one month later. Waiting till the new month thus gains an extra month of free credit.
Additionally, sales are weaker going into the weekend, as much high-end restaurant dining is for business entertaining, especially on Fridays. Recent cold, rainy and snowy weather is also discouraging dining out. The size of the fish is also important, with very large fish less favored.
“Japanese prefer Japanese fish, and it is more fresh, in most cases,” he said. “However, the market is relatively dry, so there could be good demand.” Fresh imports in the third week of January ranged from 2,592 to 2,700 yen (USD 21.39 to 22.28, EUR 19.75 to 20.58).
In the same period, domestic product from Nagasaki—where much of the tuna is aquaculture raised—sold at a discount to other Japanese locations, with a high price of JPY 3,888 (USD 32.09, EUR 29.64) per kilogram. A large farming operation owned by trading firm Sojitz Corp. raises bluefin at a facility in Matsuura, Nagasaki Prefecture. The farm has a capacity of approximately 26,000 tuna.
Other domestic bluefin sold as high as JPY 9,180 (USD 75.76, EUR 69.99). Wild tuna from northerly locations such as the port of Oma, Aomori Prefecture, on the Tsugaru Straight between Honshu and Hokkaido, typically fetch the highest bids.
For frozen product, both imported and domestic, prices averaged JPY 3,780 (USD 31.20, EUR 28.81).
