Tuna fetches record price in year's first auction

A batch of bluefin tuna has fetched a record price in the year's first auction at Tokyo's Tsukiji market -- one of the largest seafood markets in the world.

Trading began at 5 in the morning on Wednesday after some 300 wholesalers performed a traditional hand-clapping ritual to pray for good business.

The trading floor was filled with nearly 500 tunas, some caught in waters near Japan and others flown in from overseas.

A prized bluefin hauled off Hokkaido in northern Japan was auctioned for more than 32-million yen, or about 390,000 dollars. Officials say that's the highest price in the 12 years that they've been keeping records.

The bluefin was co-purchased by the owner of a sushi restaurant chain in Hong Kong and a high-end sushi spot in Tokyo's Ginza district.

The Hong Kong owner, Ricky Chen, said tunas traded in Japan are of exquisite quality, and that he wanted to buy one at any price.

The Ginza sushi master, Yosuke Imada, said the price was higher than he expected, but his guests would be delighted by its quality.

Japanese sushi restaurants are finding it increasingly difficult to purchase bluefin tuna caught off Japan, due to the fish's growing popularity among Chinese gourmands.

Japan: no ban needed on bluefin tuna trade

Regarding the agreement to slash next year's catch quotas for Atlantic bluefin tuna, Japan, a major tuna consumer, says the cutback, if observed, would be enough to protect the fish from extinction.

On Sunday, an international commission of 48 members agreed to cut next year's catch quota of bluefin tuna in the eastern Atlantic and the Mediterranean Sea by about 38 percent from this year.

The government and experts say they do not expect an immediate increase in retail prices, as there are stocks to satisfy demand for some period, and also as demand for the expensive fish remains low amid the recession.

Concerning an international move to impose a total ban on the trade in blue tuna, Japanese officials say a trade ban aimed at protecting the fish is unnecessary, now that a major cut in its catch quota has been decided.

Last month, Monaco proposed a total ban on trade in bluefin tuna from the Atlantic Ocean under the Washington Convention. The convention regulates international trade in endangered species.

Japan hopes to persuade other nations to join it against Monaco at an international meeting to discuss the proposal, scheduled in March.

The latest fishing quota cut would have a major impact on Japan, because it consumes up to 80 percent of the bluefin tuna landed worldwide.