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THE future of the tuna industry depends largely on the development of successful aquaculture, according to a new Glitnir seafood industry report.
The 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.
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.
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.
According to the report, 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 tuna comprises 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, Glitnir says.
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, the report says.
The report is the fourth in a series of seven issues planned for 2007. Issues from the series' previous four years of publication have focused on the seafood industries in Europe, North and South America and China. All previous reports are available at www.glitnir.is/seafood.
www.fishupdate.com is published by Special Publications. Special Publications also publish FISHupdate magazine, Fish Farmer, the Fish Industry Yearbook, the Scottish Seafood Processors Federation Diary, the Fish Farmer Handbook and a range of wallplanners.
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