Sunday, 6 January 2013

The £1m Tuna

A bluefin tuna sold for a record 1.76 million US dollars (£1.1 million) at a Tokyo auction on Saturday, nearly three times the previous high. Stocks (Supply) of bluefin tuna caught in the Atlantic and Med plunged by 60% between 1997 and 2007 due to rampant, often illegal, overfishing and lax quotas. This combined with the fact that Japanese people eat 80% of the bluefin tuna caught worldwide leads you to see why the price is rocketing! Classic supply & demand.