HS Code:
Atlantic and Pacific bluefin tunas (Thunnus thynnus and Thunnus orientalis) are highly valued species in the global seafood market, primarily due to their use in high-end sushi and sashimi. These species are classified under HS Code 0302.35 for fresh or chilled bluefin tuna and HS Code 0303.45 for frozen bluefin tuna. They are migratory, pelagic fish found in the Atlantic and Pacific Oceans, respectively, and are subject to strict international management due to overfishing concerns. The trade of bluefin tuna is heavily regulated by organizations like the International Commission for the Conservation of Atlantic Tunas (ICCAT) and the Western and Central Pacific Fisheries Commission (WCPFC).
Total Trade Volume
Approximately 40,000 metric tons
Data from 2022
Source
FAO Fisheries and Aquaculture Statistics, TradeMap, ICCAT Reports
25,000 metric tons
62.5% of total trade of total trade
Stable
5,000 metric tons
12.5% of total trade of total trade
Increasing
3,500 metric tons
8.8% of total trade of total trade
Decreasing
2,500 metric tons
6.3% of total trade of total trade
Stable
1,500 metric tons
3.8% of total trade of total trade
Increasing
Average Rate
5-10% ad valorem
Highest Rate
22% (applied by certain countries under protective measures for domestic fisheries)
Lowest Rate
0% (under free trade agreements like USMCA or EU-Japan EPA)
Increasing demand for sustainably sourced bluefin tuna
Higher prices for certified sustainable products and growth in aquaculture-based supply
2021-2023
Growth in aquaculture production of Pacific bluefin tuna
Reduced pressure on wild stocks and stabilization of supply to major markets like Japan
2020-2022
Stricter international regulations on catch limits
Decrease in total trade volume of wild-caught bluefin tuna, pushing prices upward
2019-2023
The International Commission for the Conservation of Atlantic Tunas (ICCAT) announced a slight increase in quotas for Atlantic bluefin tuna for 2023, reflecting signs of stock recovery in the Eastern Atlantic and Mediterranean.
November 2022
Expected to stabilize supply to European markets while maintaining sustainability goals.
A single Pacific bluefin tuna fetched a record price of over $1.8 million at Tokyo's Toyosu Market auction, highlighting the cultural and economic value of the species.
January 2023
Reinforces Japan's dominant position in the market and drives demand for high-quality specimens.
The European Union introduced new traceability requirements for imported bluefin tuna to combat IUU fishing, requiring detailed catch documentation.
March 2023
May increase compliance costs for exporters but enhances market transparency and sustainability.