Japan kicked off the Olympics on 23 July with an opening ceremony in a nearly empty stadium. Most Japanese will be watching from home, as big screen viewing parties are banned, and last call at Tokyo restaurants and bars is 7 p.m., with parties limited to two people.
As a result of the COVID-19 pandemic’s impact, the country’s seafood industry has muted its expectations for sales of luxury foods during the Olympic Games, and prices for tuna have remained low.
With Japan’s tuna wholesalers having dealt with depressed sales due for more than a year due to the COVID-19 pandemic, the outcome is hardly what Japan’s seafood and foodservice industries would have expected or wanted out of the Olympics, which prior to COVID-19 were gearing up for unparalleled sales volumes. But looking back to August 2020, when frozen stock was being held back due to restaurant closures and a big decline in dining out, many tuna vendors are expressing relief the market has normalized somewhat.
Fresh domestic fish are now being sold normally at the Tsukiji Fish Market, though prices have remained stagnant for months. But thanks to government subsidies to cover cold-storage costs, frozen tuna appears to have gained greater acceptance amongst Japanese buyers, and is now a bigger part of the market’s sales.
Additionally, tuna vendors are hoping the upcoming two-day holiday – Ocean Day on Thursday, 29 July and Mountain Day on Friday, 30 July – will see supermarkets stocking more tuna blocks and sashimi, further stabilizing the market.
Bluefin
Prices on 21 July for fresh bluefin tuna from domestic sources were JPY 1,080 to JPY 4,860 (USD 9.78 to USD 44.00, EUR 8.30 to EUR 37.36), while imported bluefin was selling for JPY 2,160 to JPY 5,400 (USD 19.55 to USD 48.88, EUR 16.60 to EUR 41.51). Frozen bluefin tuna ranged from JPY 1,620 to 4,860 (USD 14.66 to 43.99, EUR 12.45 to 37.36). Fresh volume was approximately 30,000 kilograms. The frozen volume of 18,500 kilograms was about double that of a year ago. A year ago, on 22 July, 2020, the fresh price on domestic bluefin was from JPY 1,620 to as high as 8,100 (USD 14.66 to 73.33, EUR 12.45 to 62.26). Imported bluefin is priced from JPY 3,231 to JPY 4,428 (USD 24.83 to 40.09, EUR 24.83 to 34.04). Frozen ranged from JPY 1,404 to 5,184 (USD 12.71 to 46.93, EUR 10.80 to 39.86). So, prices are generally lower today than a year ago.
Yellowfin
Fresh and frozen yellowfin sold for JPY 864 and JPY 1,080 (USD 7.82 and USD 9.78, EUR 6.64 and EUR 8.31), respectively, on volumes of about 900 kilograms and 2,700 kilos, respectively. A year ago, 13,000 kilograms of fresh were offered, but price was not reported. Frozen ranged from JPY 648 to JPY 864 (USD 5.87 to EUR 7.82, EUR 5.87 to EUR 6.64) on volume of 4,200 kilograms. So, prices are generally higher today than a year ago.
Bigeye
Fresh bigeye sold for JPY 1,512 to JPY 3,240 (USD 13.69 to USD 29.33, EUR 11.62 to EUR 24.91) with around 1,000 kilograms trading hands. Frozen volume was about 50,000 kilograms, with prices from JPY 864 to JPY 1,944 (USD 7.82 to USD 17.60, EUR 6.64 to EUR 14.95) The price of JPY 864 seems to be a standard lowball price for any tuna that hasn’t found a home, regardless of species. A year ago, limited airfreight availability kept volumes of imported bigeye to 359 kilograms, which sold at JPY 1,944 (USD 17.60, EUR 14.95). Frozen sold in a wide range from JPY 486 to JPY 3,996 (USD 3.74 to EUR 36.17, EUR 3.74 to EUR 30.73).
Southern Bluefin
Prices for fresh southern bluefin tuna ranged from JPY 2,160 to JPY 5,076 (USD 19.55 to USD 45.95, EUR 19.55 to EUR 45.95), and frozen fetched between JPY 864 and JPY 1,944 (USD 7.82 to USD 17.60, EUR 6.65 to EUR 14.95). Volumes were 2,500 and 12,748 kilograms, respectively. Last year, prices on fresh were JPY 1,620 to JPY 3,888 (USD 14.66 to USD 35.19, EUR 12.46 to EUR 29.91) on volume a little over 7,000 kilograms. Frozen was JPY 540 to JPY 4,104 (USD 4.89 to USD 37.15, EUR 4.15 to EUR 31.57) on volume of over 13,000 kilograms.
Photo courtesy of on_france/Shutterstock
