The sushi market has crashed. Premium blue fin tuna for sale at Tokyo’s Tsukuji fish market, where I once lived next door, have seen prices drop 30 percent in the past year. The monster 500 pound frozen fish, which in better times fetched as much as 60,000 dollars each in open outcry auctions, have gone out of favor. A Q1 GDP of -4.0 percent and a 5 percent unemployment rate have brought cutbacks in Japanese business entertainment spending as well as supermarket purchases of luxury items. This is despite a rising shortage of the best grade catches that has driven fishermen as far away as Antarctica. I’ll let you know when prices start to tick up, as it could be a great leading indicator for the Japanese stock market.
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