November 13, 2019 โ Tuna industry leaders have different views on the best way to solve the current market crisis.
Some of the worldโs biggest tuna fishing fleets are set to meet โface-to-faceโ on Nov. 13 in Manila, Philippines, as record low prices are seen as unsustainable for most tuna fleets.
The World Tuna Purse Seine Organization (WTPO) should close the whole fishery in the Western and Central Pacific Ocean for one month or one month and a half, according to the head of a European fishing company.
โThey should stop all the vessels for a month or a month and a half from now until Chinese New Year to stop overproduction and stabilize the market,โ he told Undercurrent News, adding that even the canneries would support such a measure, as it would provide market stability. In this way, skipjack prices would return to a minimum of $1,000 per-metric-ton, he also noted, adding that the fleets in the Western Pacific should be โresponsible and take steps to stop the vessels, restarting the logistics chainโ. At present, there is too much fish and the logistic chain is paralyzed, he noted.