Recent Cut In Bluefin Quota Might Spark All Tuna Pricesff

The recent announcement that the government had agreed to a 50 percent cut in Japan's quota of southern bluefin tuna has sent shock waves through the fishing industry and also raised concerns over possible price rises for the fish at restaurants.

During the four-day meeting of the Commission for the Conservation of Southern Bluefin Tuna (CCSBT) that ended Friday in Miyazaki, Japan agreed to halve -for five years beginning in 2007- its southern bluefin quota to 3,000 tons, from 6,065 tons this year.

Japan was handed the quota reduction after it was found to have caught more southern bluefin tuna than its 2005 quota allowed.

A high-ranking official at the Fisheries Agency said that it was regrettable that Japan had overfished southern bluefin tuna in 2005. “The conclusion reached at the CCSBT was a tough one for Japan, but it can’t be helped,” he said.

Southern bluefin tuna is often used to make expensive fatty tuna dishes at sushi and Japanese-style restaurants.

About 90 percent of the fish, which generally migrate to the southern hemisphere, are consumed by Japanese. Southern bluefin tuna accounts for about 3 percent of the tuna supplied to Japan and is as expensive as bluefin tuna, which itself accounts for about 7 percent of the market share.

However, after peaking at about 50,000 tons in the 1960s, the global catch of the fish plunged to the 40,000-ton level in the 1970s, and less than 20,000 tons in the last three years.

Many experts say that as bluefin tuna stocks have not increased since 1999, that there will be no egg-laying tuna by 2030 if the current quotas are maintained.

Japan has been criticized for overfishing southern bluefin tuna, with the Fisheries Agency finding that Japan had caught 1,800 tons more than it was allocated after catches were inspected at ports in 2005.

Along with the halving of Japan’s quota, the CCSBT reduced by about 20 percent the combined figure for other countries from the previous year, to 11,530 tons.

While Japan was hit with 90 percent of the total reduction, Australia, which is also suspected of overfishing, saw its fishing quota unchanged at 5,265 tons. Australia has also only seen a reduction imposed for three years, compared to Japan's five years.

As a result of the changes, Japan’s 2005 catch of 7,865 tons, which includes the overfished amount, will see a decline of about 4,800 tons, accounting for 27.6 percent of the country's supplies.

The quota reduction is the first for Japan since the CCSBT was established in 1994.

The Fisheries Agency believes that Japan’s overfishing was caused by a failure among fishermen to coordinate their catches as they all started fishing southern bluefin tuna at the same time. Fishermen are supposed to declare their catches, but there were occasions when reports did not match the actual quantities caught.

With rising crude oil prices increasing deep sea fishing costs, an industry source said that the high prices paid for southern bluefin tuna make it an attractive prospect for fishermen.

Since the CCSBT does not allow for punitive measures such as suspending member countries who violate their quota, it is unsurprising that Japanese fishermen were not keen to observe the allocations.

Observers say imports should be able to compensate for Japan’s reduced quota, at least for the time being. Yet the overall reduction in the world catch will also make it more difficult to secure these imports.

Yoshiike Sakana no Yakata, a supermarket specializing in selling fish in Okachimachi, Tokyo, sells southern bluefin tuna caught off the coast of South Africa.

An employee there expressed concern that the popularity of southern bluefin tuna, coupled with competition for the fish among markets, will push up the price further.

In November, another international committee is expected to meet to monitor fish resources, including tuna.

An employee of trading house Sojitz Corp. said that next year’s fishing quota for bluefin tuna in the Mediterranean Sea is likely to be reduced significantly. ”Prices for tuna that can be used for making fatty dishes may soar in the run-up to the New Year holidays,” he said.

With mad cow disease and bird flu worrying more health conscious consumers, fish has become increasingly popular in the United States and China, boosting demand for other tuna species, including yellowfin tuna.

Tokushi Yamasaki, an analyst at the Daiwa Institute of Research, said that if Japan’s fishing quota is halved, the prices for southern bluefin tuna, the highest quality ingredient used in sushi restaurants, will go up. “Prices for other low-price tuna species and bonito may also soar,” he said. “Major fishery companies will invest in farming tuna, which can be expected to increase supply of the fish in the mid to long run. But since it takes three years to farm the fish, it’s not likely to have an immediate effect.”