New report links tuna industry's future to successful aqua development

A new Glitnir Seafood Industry Report shows that the global catch of tuna has stagnated and the stocks of the most popular subspecies are currently either fully exploited or even in a stage of depletion. The future of the tuna industry depends largely on the development of successful aquaculture.

Glitnir, the globally leading supplier of financial services to the seafood industry, releases its new report on the tuna industry today. The report provides an analytical overview of the current main developments in the tuna industry worldwide.

The report shows that high-grade tuna commands high prices in market, but that the depletion of the natural stocks limits the opportunities for growth. It also points that are required new farming methods to ensure a renewed growth in the tuna industry.

Some of the points reflected on the report include:

* Tuna is the fourth largest fisheries product in terms of international trade.

* Found in all major oceans, and a popular seafood all over the world, tuna's main markets are the USA, Europe and Japan. The country with the highest tuna consumption is Spain, with a per capita consumption of 3.3 kg/year.

* Price and availability vary greatly between the tuna subspecies. Demand for canned tuna is decreasing, while fresh tuna, especially sashimi-grade products, is gaining in popularity in Europe and the USA.

* Global tuna stocks are currently more or less fully exploited, and for some of the scarcest species of bluefin tuna, limited supply has pushed prices to a level that consumers are barely able or willing to pay.

* Bluefin tunas comprise the most valuable group of tuna species in terms of price per kilo harvested. As the stocks of all three bluefin tuna subspecies are currently in a state of full exploitation or depletion, however, the commercial future of the species is contingent upon the development of successful tuna farming.

* Tuna farming is growing. In 2005 farming accounted for 0.5% of the total global supply of tuna, with Spain, Australia, Mexico and Croatia pioneering production. The main farmed species are Atlantic, Pacific and Southern Bluefin tuna, which are also the species commanding the highest price. With a higher fat content and quality than wild tuna, farmed tuna commands an extremely high price.

* Currently, tuna aquaculture relies on catch of small tuna fish, which are subsequently fattened through controlled aquaculture. Before tuna farming can be considered truly sustainable, successful methods for farming of fingerlings must be developed.

Communities in English

Communities in Spanish

Communities in Portuguese

New report links tuna industry's future to successful aqua development