In a captivating display that has become a beloved New Year tradition, the Onodera Group, a Michelin-starred sushi chain, set a new milestone at Tokyo’s Toyosu fish market auction.

The group paid a staggering 207 million yen (approximately $1.3 million or Rupees11 crore) for a 276-kilogram (608-pound) bluefin tuna, marking the second-highest price ever at the event since its inception in 1999. Comparable in size to a motorbike, the massive tuna symbolizes good fortune and prosperity.

Annual Auction Tradition

Every year, Tokyo holds a fish auction, and for the past five years, the Onodera Group has consistently won with the highest bids. After the auction, Shinji Nagao from the group expressed that they hope people enjoy eating the tuna and have a great start to the year.

Unique Features Of Bluefin Tuna

Bluefin tuna is known for its speed and longevity, living up to 40 years and capable of diving deep into the ocean. Its large size and rarity contribute to its high price. However, it is not just its physical characteristics that make it so valuable.

Reasons For High Price

The main reason for the high price of bluefin tuna is the imbalance between demand and supply. This fish is served in some of the world’s most prestigious restaurants, leading to high demand and limited supply, which drives prices up. Additionally, where the fish is caught and the effort taken to bring it to market also play significant roles in determining its price. The bluefin tuna from Oma in Japan’s Tsugaru Strait is particularly sought after.

Known As Black Gold

Due to its price and rarity, bluefin tuna is often referred to as “black gold.” This situation illustrates an economic principle where limited supply combined with high demand can make something extremely valuable.

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