Tuna fleets agree to 35pc reduction in fishing as part of ‘global initiative’ to boost prices
Some of the world’s biggest tuna fishing fleets have agreed to reduce their catch by 35 per cent in an effort to ease the current market crisis. An oversupply of skipjack tuna has led to prices crashing from more than $US2,000 ($2,513) per tonne in 2013 to around $US1,000 ($1,256) a tonne, causing many purse seine boats to operate at a loss. The World Tuna Purse Seine Organisation (WTPO) has announced its members, including some fleets from non-members, will be cooperating with the reduced effort. Read the rest here 14:49
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