High oil prices hit sushi trade
Jonathan Soble in Tokyo , Financial Times , 04 Jun 2008Sushi 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 ($1,137, €733, £576) 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. ... Read full article
