Tuna Business Headlines
IN BRIEF
The Marshall Islands hosted a three-day National Ocean Symposium on ocean dialogue and action to protect and sustainably manage the ocean. The event kicked off on August 5 and concluded today. The nation’s President Hilda Heine, in her keynote speech during the opening, underlined the importance of conserving and protecting ocean resources such as tuna for future generations, reported local news sites.
The benefits of the highly looked-up-to FISH4ACP initiative were widely discussed at the Symposium. Participants looked into how it could play a vital role in accelerating the tuna exports of the Marshall Islands to big markets like the US and the EU. The relevance of the recently launched tuna loader, cooperation with other Pacific Islands for economic benefits, and topics related to Majuro Port and transshipments were highlighted during the three days. This Port handles some of the highest tuna transshipment volumes per month within the PNA. The event was organized by the Marshall Islands Marine Resources Authority (MIMRA).
Last month, 8,750 applications were submitted by Tuvaluans for permanent Australian residency, as part of a Tuvalu-Aussie program. Under the initiative, 280 Tuvaluans would be given permanent Australian residency, under Falepili visa, inked in 2023, as a response to the existential threat of climate change and rising sea levels to the island nation. But the numbers submitted in July were overwhelming, comprising 80 percent of Tuvalu’s population, which is just over 11,000. Migrants, who get the green light, are expected to arrive in Australia by the end of 2025, reported news sites.
The Pacific Islands are at the forefront of facing the threats of climate change. Tuna fishing and processing activities form the backbone of the economies of these islands. The Tuvalu government has already begun measures to move out its citizens, and the issuance of Falepili visa is one among them. It is unclear at the moment how Tuvalu will manage its tuna fisheries if most of its citizens shifts to Australia, and by when the relocation of the entire population will happen.
Officials from the Fiji and Tuvalu Ministries of Fisheries met last week to secure tuna raw materials, mainly albacore, essential for Fiji’s processing industry. The meeting was intended to address the shortage of raw materials faced by Fiji’s state-owned tuna processing company, PAFCO, one of the largest senders of albacore loins to the US, reported Pacific Island news sites.
In other news from Fiji, the island nation’s Minister for Fisheries, Alitia Bainivalu, lauded the Pacific Island leaders coming together last month to strike an agreement for sustainable South Pacific albacore stocks, the target fish of Fijian-flagged longliners. Bainivalu stressed the importance of the tuna for the island’s economy and asserted the need for the stock to remain healthy and not overfished. She also warned for rising pressure from more fishing vessels in regional waters and stated the topic will be raised at the next WCPFC meeting. The Minister wants to limit the number of boats allowed to fish in the South Pacific and enforce rules to ensure the fishery’s long-term sustainability. Last month, Fiji allocated a budget of FJD 24.9 million (USD 10.99 million) to overhauling the country’s tuna and other fisheries sector.
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Processing Highlights
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