Latest Fishing News

20 February 2024

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Rollout of Cameras on Fishing Boats Under Review

The future roll-out of cameras on fishing boats is back on the table on Monday.

Top fishing company executives and senior officials from the Ministry for Primary Industries (MPI) will meet to discuss challenges and future options for the programme.

Labour brought in the regime to put cameras on commercial fishing vessels to improve under-reporting around bycatch of species like penguins, dolphins and seals.

Continue reading here (Source: Radio New Zealand).

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Global Tuna Alliance Secures First Japanese Partner

Japanese fishing and processing company Meiho Co, based in Shiogama City, has become the GTA’s latest Partner and its first ever in Japan. This a significant development for the GTA as, along with the US, Japan represents one of the largest consumers of tuna in the world and is the second-largest tuna fishing nation.

The Global Tuna Alliance has been prominent in international fisheries management in recent years, bringing to bear the collective market influence of its partners to advocate for the environmentally sustainable and socially responsible fishing of global tuna stocks. Since its formation in 2019, the pre-competitive collaboration has grown from an initiative of retailers and supply chain companies based entirely in Europe to one which now spans four continents.

Japan has a huge importance in the tuna bu

siness, with landings of tuna in Japan in 2018 coming to 370,000 tonnes, while Japan consumes a quarter of the world’s tuna catch, mostly for sashimi. The Japanese delegation is also an authoritative presence at tuna RFMO meetings. Continue reading here (Source: FiskerForum).

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Ocean Basket Seychelles to Build Large Processing Company Despite Delays

Ocean Basket Seychelles is going ahead with plans to build a large fish processing company in a few years' time despite challenges in receiving fish supplies.

The company's managing director, Louis Bossy, told SNA that one of the main reasons for the delay in the initial expansion plans is a lack of fish to process.

In February 2022, Ocean Basket Seychelles announced it is planning to build a European Union-standard fish and seafood processing plant at the Providence Industrial Estate in the eastern Mahe district to increase its production capacity.

Continue reading here (Source: Seychelles News Agency).

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EP Fisheries Committee Approves Agreement Allowing Eight Seychelles Purse Seiners to Fish in Mayotte Waters

The Fisheries Commission has approved, by 15 votes in favor, six against and no abstentions, an agreement by which  new rules are adopted to allow Seychelles vessels to fish in the waters of Mayotte  (France) beyond the 24 nautical miles from its coasts.

This fisheries access agreement, which covers a period of six years starting in March 2023 , aims to strengthen the EU's strategic partnership with Seychelles and ensure sustainable fishing in the Indian Ocean. Another objective, according to the European Parliament, is to contribute to the development of fisheries policy in Mayotte and, in general, to address the challenges faced by the outermost regions.

Under this agreement, eight Seychelles purse seine vessels will fish for migratory species in the waters of the Mayotte Union, following the best available scientific advice and recommendations of the Indian Ocean Tuna Commission (IOTC). For this, Mayotte boats will pay 135 euros per ton of tuna caught (with an advance per boat of 13,500 euros for the first 100 tons). Continue reading here (Source: Industrias Pesqueras).

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PAFCO Thrives Amid Global Tuna Supply Challenges

Pacific Fishing Company Limited has seen a significant improvement in the supply of tuna last month and has remained operational throughout, despite the global challenge.

This has been highlighted by PAFCO Chief Executive Saiyad Raiyum, as 2023 was known to be the worst year in terms of worldwide tuna supply. Continue reading here (Source: FBC News).

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Tuna Industry at Crossroads: Adapting to Generational Shifts, Environmental Challenges

In the midst of a rapidly changing food industry, the canned tuna sector, worth an estimated $40 billion, finds itself at a crossroads, grappling with both burgeoning growth and formidable challenges. Recent data underscores a stark generational divide in consumer habits, with only 32% of individuals aged 18-34 reporting recent purchases of canned fish or shellfish, in stark contrast to 45% of those aged 55 and older. This shift, driven by millennials' preference for fresher, less processed foods, casts a long shadow over the future of canned tuna, a staple that has fed generations. Continue reading here (Source: BNN).

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Inflation's Continues Cooling in January Does Not Translate to Increase in Seafood Sales, Volume

Inflation on seafood prices at U.S. retailers continued to ease to start the new year, but that did not lead to increased sales of seafood, as fresh and frozen seafood sales and volume dipped in January.

Frozen seafood prices declined 6.6 percent to USD 7.32 (EUR 6.80) per pound on average year over year, according to new Circana data analyzed by 210 Analytics. Fresh seafood prices dropped 3.6 percent year over year to an average price of USD 9.26 (EUR 8.60) per pound, while shelf-stable seafood prices fell 0.5 percent year over year.

However, consumers looking for sources of protein consistently turned toward lower-priced meat and poultry options, such as chicken, which sported an average price of USD 3.05 (EUR 2.80) per pound on average in January; pork, which had an average per-pound price of USD 3.20 (EUR 3.00) in January; and beef, which reached USD 6.15 (EUR 5.70) per pound during the month, 210 Analytics Principal Anne-Marie Roerink told SeafoodSource. Continue reading here (Source: SeafoodSource).

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Newlat Halts Talk to Buy Princes

Newlat, the Italy-based food manufacturer, has halted negotiations to buy UK tinned fish and beverage business Princes after seeing its latest offer rejected.

In December, Newlat, which already owns UK food manufacturer Symington’s, confirmed it was involved in the race to buy Princes from Japan-based conglomerate Mitsubishi Corp, saying it was at a “very advanced stage”.

However, the Italian group said on Friday (16 February) in a filing that it had submitted a new bid for Princes which accounted for softening demand and lower inflation in the UK’s “difficult market environment”. Mitsubishi Corp. rejected the new proposal. Continue reading here (Source: Just Food).

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Foreign Illegal Fishing, Poverty Straining Philippines Marine Sector

The Philippines' rich marine resources and expansive coastlines make it an ideal environment for a thriving seafood industry. While one might expect the country to excel in seafood production and exports, recent research has revealed concerning challenges that are jeopardizing the local fishing sector. 

Illegal fishing activities carried out by foreign entities, as well as the pervasive poverty within local fishing communities have directly contributed to the industry's weakening performance.

In the 2024 ODI report titled “Fishy Business,” it was revealed that the Philippines only contributes two percent of the global marine capture producers. Meanwhile, the entire fishing industry accounted for only 1.52 percent of the country’s gross domestic product (GDP) in 2020. Continue reading here (Source: Manila Bulletin).

Current MGO Price Indications
*Prices are indications only.
Please contact us for firm pricing.

Abidjan, Ivory Coast

USD4.27/gallon | USD1130/KL

Balboa, Panama

USD2.95/gallon | USD780/KL

Bangkok, Thailand 

USD3.21/gallon | USD848/KL

Busan, South Korea 

USD2.67/gallon | USD707/KL

Callao, Peru

USD3.63/gallon | USD959/KL

Cape Town, South Africa

USD3.65/gallon | USD963/KL

Cartagena, Colombia

USD2.76/gallon | USD731/KL

Manila, Philippines

USD3.89/gallon | USD1028/KL

Manta, Ecuador

USD3.06/gallon | USD809/KL

Pago Pago, American Samoa

USD3.29/gallon | USD870/KL

Papeete, Tahiti

USD3.35/gallon | USD885/KL

Shanghai, China

USD2.90/gallon | USD767/KL

Tema, Ghana 

USD4.27/gallon | USD1130/KL

Tokyo, Japan

USD2.94/gallon | USD776/KL

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