The first auction for 2015 at Tokyo's fish market established on Monday a record-breaking price of US$37,500 (4.5 million yen) for a 180-kilogram (400-pound) Pacific bluefin tuna.

The fish was caught off northeastern Japan, reports Indian Express.

Despite the record-setting price paid by Kiyoshi Kimura, owner and president of the Sushi Zanmai restaurant located near the Tsukiji fish market, he considers the fish a good buy and cheaper than expected due to the good harvest of tuna near Tsugaru this January.

Like Us on Facebook

It was his fourth time since 2011 to be the highest bidder for the tuna which would be made into sushi, sashimi and other fish dishes in his restaurant.

The reason why he considers it cheaper is that in 2013, he paid US$1.76 million for a tuna weighing 222 kilograms, which is the record-high.

In 2012, Kimura also had the best bid for the fish market's first tuna auction and he shelled out US$746,700.

Tsukiji market is marking eight decades next month. It opened in February 1934. The market, though, will move to the Toyosu area, still a part of Tokyo, in November 2016.

As Japanese food became a global craze, demand for fresh tuna increased significantly over the years and depleted global stock that the International Union for Conservation of Nature declared the Pacific bluefin as threatened by extinction.

To help address the problem of overfishing, fish farms like those operated by the Kinki University in western Japan are engaged in bluefin aquaculture wherein they raise tuna from eggs and release them into the ocean. The farms likewise sell mature tuna to restaurants and department stores which allows Japanese diner to eat their favorite tuna dishes without being a part of the problem of overfishing, reports CCTV America.

Tags pacific bluefin tuna, sushi, sashimi