Tuna, a lucrative resource - Solomon Star News

Tuna, a lucrative resource

22 August 2014

THE tuna industry remains one of the most lucrative markets in the world, given its demand in the world market.

This was highlighted early this week at the two days media training on tuna reporting organised by Parties to the Nauru Agreement (PNA) in association with Pew environment group.

Because of the lucrative tuna market it should be an expensive commodity to deal with when it comes to marketing and consumption said Singapore-based managing director of Tri-Marine International, Philip Roberts when making his contribution during the training this week.

“The fishing industry is an expensive and attractive business because although fish price will drop, fishing companies will still go out to fish because of the economics that are involved in generating more money.”

He added that tuna being one of the healthy foods should not be sold cheaply.

“Tuna is a healthy nutritious food so why should it be cheap, it should be made expensive and not a luxurious food because of its demand in overseas market.”

Currently the United States (US) remains the highest market for canned tuna while demand for fresh tuna comes from the Asian countries such as Japan for the Sashimi.

At the training early this week PNA chief executive Dr Transform Aqorau highlighted that daily fishing access fees in the Pacific have hit an all-time high of 13,000 US dollars (SBD$95, 000).

This is despite PNA setting a minimum limit of US$6000 dollars (SBD$44, 000) for a fishing day which is expected to go up to US$8000 (SBD$58, 000) next year.

He cited how earlier this month a trade of fishing days between Papua New Guinea and Kiribati resulted in a South Korean fishing company paying an additional 7,000 dollars on top of 6,000 dollars it had paid originally to fish in Papua New Guinea in order to gain access to Kiribati waters instead.

This got to show how tuna remains a lucrative resource in the globe involving lots of money, it was highlighted.

In Suva, FIJI