Latest Fishing News
5-11 October 2021
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Walmart Chooses Pacific Island Tuna For Its In-House Brand
A partnership between the Republic of the Marshall Islands and The Nature Conservancy will supply canned tuna to Walmart stores for the store’s Great Value brand across the United States.
The new joint venture, dubbed Pacific Island Tuna (PIT), is “designed to transform the global canned tuna supply chain,” according to a Nature Conservancy announcement. The new business model is intended to give Pacific islanders the ability to benefit from their tuna resources by directing 100 percent of long-term net profits back to them while utilizing a sustainable model of fishing and production. Continue reading here (Source: SeafoodSource).
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Why the Marshall Islands Started a Tuna Fish Company
In the Marshall Islands, a chain of small islands in the middle of the Pacific Ocean between Hawaii and the Philippines, the economy relies heavily on the tuna industry. But foreign fishing companies dominate the market, and the country only earns a fraction of the total value of the fish caught off its shores, and a minuscule percentage of the total $26 billion global industry. It’s also hard to control illegal fishing, leading to the reduction of local fish stocks.
To try to get more value from its natural resources—and also manage them more responsibly—the government decided to form an unusual partnership: The country and the nonprofit Nature Conservancy just launched a tuna company of their own. All of the profits will go back to the community for conservation, climate adaptation, and sustainable economic development. Continue reading here (Source: Fast Company).
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Marshall Islands' Joint Venture with Tuna Industry Claims "Sustainability" and Profitability Not At Odds"
The Republic of the Marshall Islands is spearheading a new industry partnership that aims to help Pacific Islanders participate more equitably in global tuna supply chains.
Teaming up with global conservation organization The Nature Conservancy (TNC), the local fishing industry has launched the joint venture company Pacific Island Tuna, which intends to direct 100% of long-term net profits back to Pacific Island governments and communities.
“Pacific Island Tuna is showing the world that sustainability and profitability are not at odds, even in an industry that has been challenged by both,” says Gene Muller, general manager of Pacific Island Tuna. Continue reading here (Source: Food Ingredients First).
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87.7% of Global Tuna Catch Continues to Come from Stocks at Healthy Levels; 9.6% Require Stronger Management
Of the total commercial tuna catch worldwide, 87.7% of the global catch continues to be sourced from stocks at “healthy” levels of abundance, according to the newest International Seafood Sustainability Foundation (ISSF) Status of the Stocks report. In addition, 9.6% of the total tuna catch came from overfished stocks, and 2.7% came from stocks at an intermediate level of abundance.
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Four Tuna Species Show Signs of Recovery from Overfishing
In September, the International Union for Conservation of Nature (IUCN) announced some surprisingly good news. Four of the seven most commercially fished tuna species that appear on its Red List of Threatened Species are showing signs of recovery from overfishing.
That led the IUCN to update in its annual red list the status of the Atlantic bluefin from “endangered” to “least concern”. The southern bluefin went from “critically endangered” to “endangered” while the yellowfin and albacore moved from “near threatened” to “least concern”. Continue reading here (Source: China Dialogue Ocean).
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Conference Tackles Overfishing in the World's Oceans
Protecting the world’s oceans and its resources could be coming closer to reality as countries gather this week in China for the United Nations Conference on Biological Diversity.
Nations are expected to start keeping promises to protect 30% of the world’s oceans, including implementing or pledging support for the implementation of more Marine Protected Areas around the world.
The conference, to be held in Kunming, China starting Monday, follows a collective pledge from more than 100 countries to protect at least 30% of the world’s oceans by 2030. Climate change was a major theme during the 76th Session of the United Nations General Assembly in September, and the goal remains lofty though conservationists remain hopeful. Continue reading here (Source: Hawaii Civil Beat).
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Agreement to Raise Pacific Bluefin Tuna Catch Quotas Reaffirmed
Japan, the United States and other economies Thursday reaffirmed their agreement to increase catch quotas for large Pacific bluefin tuna weighing at least 30 kilograms by 15 pct in 2022 from the previous year, the Japanese Fisheries Agency said.
The agreement, first reached in July, was reaffirmed at a virtual meeting of the Northern Committee of the Western and Central Pacific Fisheries Commission. A final decision will be made at an annual WCPFC meeting scheduled for early December.
The WCPFC Northern Committee consists of Japan, the United States, Taiwan and seven other economies. Unanimous consent is required for proposals including an increase in catch quotas. Continue reading here (Source: Jiji Press).
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Current MGO Price Indications
*Prices are indications only.
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USD2.53/gallon | USD669/KL |
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USD2.65/gallon | USD701/KL |
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USD2.44/gallon | USD644/KL |
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USD2.33/gallon | USD616/KL |
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USD2.88/gallon | USD761/KL |
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USD2.52/gallon | USD667/KL |
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USD2.44/gallon | USD645KL |
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USD4.02/gallon | USD1061/KL |
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USD2.36/gallon | USD624/KL |
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Pago Pago, American Samoa |
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USD2.47/gallon | USD653/KL |
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USD2.38/gallon | USD629/KL |
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USD2.39/gallon | USD631/KL |
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USD2.44/gallon | USD646/KL |
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USD2.41/gallon | USD637/KL |
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