January 5, 2005

Japan's Fish Prices Not Affected By Tsunami

Japan's fish prices are not severely affected by the earthquake and tsunamis that killed more than 150,000 people in southern Asia because the calamity happened during a low season for the region's fishing industry, according to fish traders.

"The disaster took place after the peak of fishing in the region,'' said Takuma Yamagata, president of fish wholesaler, Isedai Ltd., at Tokyo's Tsukiji fish market, the world's busiest by sales. "If it happened in October or November, it could have increased the price of fish in Japan.''

Japanese lead the world in fish consumption, eating an average 65.6 kilograms of seafood annually, according to the country's agricultural ministry. Some traders at Tsukiji, which moves $28 million worth of fish a day, say the Dec. 26 tsunamis may yet have some effect on prices if supplies are disrupted.

"The price of tuna may rise in the near future as shipments from the region might be affected,'' said Kiyoshi Ito, an official at fish wholesaler, Tsukiji Uoichiba Co.

The Tsukiji market imports tuna fish, shrimp, and squid from countries such as Indonesia, Thailand, and Sri Lanka, three nations affected by the tsunamis. Shipments have not been disrupted so far, Isedai's Yamagata said.

Tuna fish traded at 1,000 yen ($10) per kilogram at the market today, a typical price for the new year season, said Yamagata.

Tokyo-based Maruha Group Inc., Japan's biggest fisheries company by sales, said the disaster did not affect their operations in Indonesia and Thailand, according to company spokesman Takuo Sasaki. The company raises shrimp in Indonesia and owns more than half of the stake at Kingfisher Holdings Ltd., based in Bangkok, Thailand, he added.

Tsukiji, one of 54 wholesale fish markets in Japan, sells about 2,270 tons of seafood a day, or seven times the total in Paris' Rungis market, the world's second-largest, according to the National Geographic magazine.