Japan’s Love Of Tuna Lifts Clean Seas Forecastff

Port Lincoln’s Clean Seas Tuna has received higher-than-expected prices for its southern bluefin tuna, lifting its revenue ahead of budget.

Clean Seas managing director Marcus Stehr said yesterday Japanese buyers last month paid an average 1800 yen per kilogram ($20.92/kg), almost 30 per cent ahead of the prospectus forecast.

The company, which listed on the stock exchange in December, has also been receiving higher-than-forecast prices for its kingfish, which is sold primarily to European customers.

”Business conditions right now are fantastic,” Mr. Stehr said. “The plan is to keep ramping up our volumes of kingfish alongside our Southern Bluefin tuna propagation project, which we are one-third of the way into. We remain on track to deliver a result for the year ending 30 June, 2006, above our budget.”

The company has not released its financial forecast to the market. Clean Seas expects to complete construction of its on-shore tuna breeding facility at Arno Bay by July.