A tuna a day, keeps plummeting prices away; P.E.I.’s bluefin fishery

Bluefin tuna can be the largest and most expensive tuna fish in the world, selling for as much as $400,000 per fish in Japanese auctions, or dropping to as low as $ 7,500 a fish. Bluefin has critically low populations even though they can grow upwards of 500 kg in weight. Rated ‘avoid’ by the SeaChoice sustainability guide, bluefin tuna’s scarcity (and taste) dictate its high prices.

PEI’s tuna fishery last year allotted a 127 metric tonne limit, which was caught in a short 48 hour period. This resulted in plenty of available fish on the market all at once, which in turn, forced prices to drop drastically. As 55$/kg in the fisherman’s pocket is favoured over $15/kg, this year’s fishery put a cap on the allowable catch of: one fish per fisherman, per day, meaning one fishing fleet could bring in approximately four tuna per day. This will potentially extend the fishery over a three-month period and permit the fishermen to generate greater revenues. [To learn more].

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