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Thai Union Reported a 39% Drop in Quarterly Profit Due to Falling Sales and a Drop in Tuna Prices
The world's largest canned tuna producer Thai Union Group Pcl reported a 39 percent drop in quarterly profit due to falling sales and a drop in tuna prices.
Thai Union reported on Monday net profit of 869 million baht ($27.28 million) in its first quarter ending in March, beating the average estimate of 855 million baht in a Reuters poll of four analysts.
Sales dropped 5.5 percent from a year earlier.
Inventories of higher priced tuna and a stronger baht contributed to a decline in the gross profit margin to 11.3 percent versus 14.5 percent in the same period a year ago.
Competition in its North American market, which accounted for 40 percent of sales, also contributed to the fall in sales.
The average tuna price in the first quarter fell 3.5 percent from a year ago to $1,577 per ton. In April, tuna prices recovered to $1,800 per ton.
Source: Reuters
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Tuna Market Intelligence Issue No. 70
Bangkok prices for frozen whole round skipjack continue to climb. As of May 2, the price is USD 1,800/mt.
The PNA Office is pleased and proud to announce their winners for this year's "Smart Tuna - Smart Ocean" Talent Quest 2018.
Winning first place is "Our Waters," a song by Majuro's band Diversity Music. It's a lively tune with an island feel that includes a bit of rap and cautions, "Rude boy don't be stingy on these island waters." Later it admonishes the listener to "Put our minds to conservation, This for our future generation."
Rapper and vocalist Alex Aruhane saw PNA's ad in the paper and went to his band mates, asking them if they'd be interested in entering. That night they collaborated on the lyrics and put the piece together.
Diversity Music boasts a mixed background ranging from Marshallese, i-Kirbati, Tuvaluan, American, Samoan and Solomon Islander. So while they all live in Majuro, they represent a large part of the Pacific region.
Source: PNA Tuna
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Thai Union Acquires 45% Stake of Russia's Canned Tuna Producer
Thai Union Group, Thailand-based producer of seafood-based food products, has made an agreement to acquire 45 per cent of TUMD Luxembourg
Russia has a large and growing economy with a relatively low consumption of tuna.
TUMD wholly owns three Russian companies including Dalpromryba Limited Liability Company, Torgovo-Promyshlenny Kompleks 'Dalpromryba" Limited Liability Company and Maguro Limited Liability Company. These companies are collectively known as the DPR Group (DPR).
DPR is a retail-focused fish and seafood business and it is Russia's one of the leading canned tuna producers.
Russia has a large and growing economy with a relatively low consumption of tuna, which is steadily increasing. It is expected that sales of tuna, and other seafood, will continue to increase given improving living standards and general health awareness.
Source: Far Eastern Agriculture
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Panama to Approve New Fishing Law as IATTC Discusses Fads, Tuna Capacity
Panama is in the process of approving a new fishing law, which will contribute to the fight against illegal fishing in the country's waters, said Raul Delgado, general director of inspection, surveillance and control at the Panama aquatic resources authorities.
Delgado is also the new chairman at the International Commission for the Conservation of Atlantic Tunas (ICCAT) and represents Panama at the Intra-American Tropical Tuna Commission (IATTC).
Panama's fishing law dates back to 1959 and needs to be updated, he said, adding that the law was currently being discussed by the national parliament.
Source: Undercurrent
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Govt, Industry Agree - Time to Fish Smarter
Minister of Fisheries and Marine Resources, John Maneniaru says Solomon Islands, in his opening speech at World Tuna Day last week pointed to the need to "fish smarter" through fishing sustainably and maximising domestication of the industry.
"I understand SolTuna has increased production in the last few years this has been encouraging and rewarding for the development of the Western Province and the rest of Solomon Islands. SolTuna is a national processor and the only one in the country," said Minister Maneniaru encouraging SolTuna to continue to provide jobs, education and economic benefits.
Tuna is the future, said Minister Maneniaru, but in order for the industry to be strong, it had to be sustainable.
He commented: "The logging industry in the Solomon Islands is slowly phasing out hence the focus of the country, the Pacific region and international organisations is now on the fisheries especially the tuna industry.
Source: Solomon Star
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Western, Central Pacific Tuna Fishery in Line for MSC
The Western Pacific Sustainable Tuna Alliance, Western and Central Pacific skipjack and yellowfin free school purse seine fishery has been ruled to have met the standards for Marine Stewardship Council (MSC) certification.
Following a 30-day comment period on the public comment draft report, SCS Global Services has considered the assessment team's report, the peer reviewers' comments and all stakeholder comments.
Its determination is that the fishery should be certified in accordance with the MSC fisheries standard. There is now a 15 working day period during which a previously involved stakeholder may lodge a notice of objection to this determination. T
he fishery client for the certification is Taiwan's FCF Fishery Co.
Source: Undercurrent
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Call for Vanuatu-Caught Tuna to Be Processed Locally
Vanuatu's Minister of Fisheries Matai Seremaiah has made a call for all Vanuatu-caught tuna to be processed at the country's Sino-Van Fish Processing Plant.
The plant has not processed any fish since it was built 14 years ago because Port Vila has no facility to accommodate fishing boats.
The ministry's acting director general, Benjamin Shing, says Vanuatu does not enjoy the maximum benefit from its lucrative tuna industry as tuna is offloaded to be weighed then shipped abroad.
Mr Shing was speaking on behalf of the minister to mark World Tuna Day yesterday.
Source: Radio New Zealand
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