The price of frozen bluefin tuna in Japan has fallen sharply recently, mainly due to an oversupply of bluefin tuna farmed in the Mediterranean.

The year-end season has brought an unexpected surprise for Japanese seafood lovers, as frozen bluefin tuna prices have plummeted, making the prized fish more affordable for consumers. According to Jiji Press, the price drop is attributed to an oversupply of bluefin tuna farmed in the Mediterranean region.

A recent auction at Tokyo's Toyosu Wholesale Market showed prices for frozen bluefin tuna at about 2,800 yen ($19.89) per kilogram, down nearly 20 percent from a year earlier.

Mediterranean-farmed bluefin tuna, which is raised and fed in coastal pools, has a higher fat content, adding to its appeal. In 2022, Japan's imports of this bluefin tuna increased significantly, reaching 782 metric tons, up 2.8 times year-on-year and the highest in a decade.

Despite strong production of bluefin tuna farmed in the Mediterranean, imports have been limited by ample stocks in Japan's frozen warehouses, a point highlighted by an official at the importing company.

In the Toyosu market, wholesale prices for Mediterranean bluefin tuna hovered between 2,500 yen and 3,500 yen per kilogram in mid-December, down more than 30 percent compared to the same period last year.