[/floatr]FT via NineMSN: High oil prices hit sushi trade
Sushi is in danger of falling victim to high oil prices after fishing industry groups warned that a third of the world's long-line tuna fleet – the ships that catch the high-grade tuna used in the Japanese dish could remain docked this year as soaring fuel costs make fishing unprofitable. The business is already in decline because of dwindling fish stocks. Japan Tuna, an industry group, said the cost of heavy fuel for long-range tuna ships had doubled over the past year to Y120,000 a kilolitre. It said 20 per cent of Japan's fleet of 360 ships might suspend operations during July to October, when catches tend to be lowest. Wholesale prices for the choicest tuna cuts – those served in high-end restaurants – have risen by about 25 per cent in the past year, although the price of lesser grades sold in supermarkets has barely budged. Japan had more than 800 long-range tuna ships a generation ago but the worsening economics of fishing and tighter international quotas have reduced that number by more than half. Takeshi Hamada, professor at Tokyo Marine Science and Technology University, said declining stocks and higher fuel costs would hit consumers. "Tuna sashimi used to be a dish for rich people. In the future it could become a delicacy again," he said...more...
