Pacific Bluefin: A Short History of a Multimillion-Dollar Fish

In early January, a single Pacific bluefin tuna sold for $3.2 million at auction in Tokyo – a symbolic price, but one that demonstrates the cultural, and culinary, importance of this famous fish species. Just 10 years ago, it seemed possible that the annual New Year’s Day tuna auction would never happen again as the population was severely overfished, down to just 2% of its historic level.

But thanks to a regional decision to significantly cut the catch of bluefin, the population has rebounded. And if governments throughout the eastern and western Pacific Ocean can agree this year to new, ongoing science-based management of bluefin, they will solidify a remarkable turnaround for one of the world’s most iconic predators.

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The recent past: In 2011, the dire state of the species prompted attention from countries involved in the Western and Central Pacific Fisheries Commission (WCPFC) and Inter-American Tropical Tuna Commission (IATTC). These two regional fisheries management organizations, which co-manage Pacific bluefin, began developing international management measures and requiring some reductions in catch. But it was not enough.

Overfishing continued, and in 2016 The Pew Charitable Trusts called for a moratorium on commercial fishing of Pacific bluefin tuna. Still, managers could not agree to reduce fishing to a level that could achieve long-term sustainability.

Momentum for new management grows: As the plight of Pacific bluefin became increasingly alarming, a more modern, long-term and science-based approach to fisheries management known as management procedures (MPs) was gaining traction in other fisheries throughout the ocean.

MPs deliver highly effective management through the use of pre-agreed measures and rules that eliminate the annual, often-politicized negotiations of catch limits. For instance, when the fishery for southern bluefin tuna – Pacific bluefin’s close cousin – implemented an MP in 2011, stakeholders immediately began to see benefits, including the rebuilding of the depleted population and stabilization of the economics of the fishery. Since then, MPs have been adopted for other tuna species in the Atlantic, Pacific, and Indian oceans.

Countries recognize urgent need to protect Pacific bluefin: After years of public pressure – and a realization that the depletion of Pacific bluefin was unsustainable – IATTC and WCPFC finally agreed in 2017 to a rebuilding plan that would bring the species back from the brink by 2034.

The economic stakes: In 2016, Pew released the world’s first global estimate of the value of the five most commercially valuable tuna species. It showed that the Pacific bluefin fishery was worth nearly $1 billion a year. In Pew’s 2020 update, that value had dropped to about $800 million per year, as a result of the catch cuts required by the rebuilding plan, but the population was already increasing.

Rebuilding plan starts working, but slowly: A 2018 stock assessment of Pacific bluefin showed slight growth in the population, from 2.6% of its historic size to 3.3%. Managers prudently rejected proposals in 2018 and 2019 to increase the catch, but eventually agreed to raise the limit in 2021, after the population had grown about 1% more. By 2022, the stock size exploded, reaching 22% of its historic size, far outpacing the target of 20% by 2034.

Atlantic bluefin tuna gains seminal protections: In 2022, Atlantic bluefin tuna – another cousin – got an MP of its own. Like Pacific bluefin, the Atlantic populations are extremely valuable and had suffered from years of overfishing and depletion. Today, Pacific bluefin remains the only bluefin species without an MP.

United Nations study shows science-based management works: In 2025, the United Nations Food and Agriculture Organization released a report showing that, despite overall declines in the world’s fisheries, some of the most historically overfished and mismanaged species of tuna are recovering. Today, 97% of the world’s commercial tuna catch is sustainable, with rebuilding helped along by the adoption of MPs.

What’s next for Pacific bluefin: In mid-March, a joint working group of managers from WCPFC and IATTC met to evaluate options for an MP to keep the population healthy and the fishery sustainable for the long term. The three-day meeting ended with promising results that set the stage for important final decisions later this year:

• Managers selected a Pacific bluefin MP from more than a dozen candidates. It could be formally agreed at the next meeting of the working group, scheduled for July.
• If agreed, adoption by the full memberships of IATTC and WCPFC could happen as early as their upcoming annual meetings in September and December, respectively.

Should IATTC and WCPFC adopt an MP, it would secure the gains made in restoring the population and bring management of Pacific bluefin in line with that of the world’s other high-value bluefin species. At this year’s meetings, organization members should seize the opportunity to chart a new and promising path for the future of this majestic, multimillion-dollar fish.

Dave Gershman works on Pacific bluefin tuna and Pacific Ocean fisheries management for The Pew Charitable Trusts’ international fisheries project.