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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