HS Code:
Thunnus orientalis, commonly known as the Pacific bluefin tuna, falls under the Harmonized System (HS) Code 0302.35 for fresh or chilled bluefin tunas and 0303.45 for frozen bluefin tunas. This species is a highly valued marine product in global markets, particularly in the sushi and sashimi industries. It is primarily caught in the Pacific Ocean and is known for its rich flavor and high fat content, making it a premium product in countries like Japan. The trade of Pacific bluefin tuna is heavily influenced by sustainability concerns, overfishing issues, and international regulations aimed at conserving the species.
Total Trade Volume
Approximately 20,000 metric tons
Data from 2022
Source
FAO Fisheries and Aquaculture Statistics, UN Comtrade
12,000 metric tons
60% of total trade of total trade
Stable
3,000 metric tons
15% of total trade of total trade
Increasing
2,000 metric tons
10% of total trade of total trade
Decreasing
1,500 metric tons
7.5% of total trade of total trade
Increasing
1,000 metric tons
5% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain countries with protective fishery policies)
Lowest Rate
0% (under free trade agreements like CPTPP for member countries)
Increased demand for sustainably sourced tuna
Higher prices for certified sustainable Pacific bluefin tuna, pushing exporters to adopt eco-friendly practices
2021-2022
Growth in aquaculture production
Reduction in wild catch pressure as farmed bluefin tuna gains market acceptance, especially in Japan and South Korea
2020-2022
Stricter international regulations
Reduced trade volumes in non-compliant regions, with a shift towards markets adhering to ICCAT (International Commission for the Conservation of Atlantic Tunas) guidelines
2019-2022
The International Commission for the Conservation of Atlantic Tunas, which also oversees Pacific bluefin tuna, adjusted quotas to allow a slight increase in catch limits due to signs of stock recovery.
November 2022
Expected to stabilize supply and prices in major markets like Japan, though conservationists warn of potential overfishing risks.
Japan has invested heavily in bluefin tuna farming to reduce reliance on wild catch, with new technologies improving survival rates of farmed tuna.
March 2023
Likely to increase Japan's export capacity in the long term while reducing pressure on wild populations.
The United States implemented stricter import guidelines for bluefin tuna, requiring detailed traceability to combat illegal fishing.
January 2023
May reduce imports from non-compliant countries, affecting trade volumes from certain exporters.