Papua New Guinea Tuna Fishery

PNG TUNA FISHERY

These are the four main tuna species now commonly referred to as the highly migratory tuna species. They are commonly known as Skipjack, Yellow fin, Big eye and Albacore. From 2005 to 2010 the average annual catch for PNG was 500, 000 mt. In 2010 PNG made a record catch of 749, 000 mt. At the going Skipjack price of US$1, 800 per metric ton. The 500, 000 mt average PNG catch is valued at US$0.9 Billion. There are three main commercial fishing methods used in the capture of tuna being; Purse Seine, Long Line and Pole-and-Line. The Western and Central Pacific Ocean is bordered by 400 North and South of the Equator and 1100 East longitude and 1500 East Longitude. This Ocean is referred to as the Western and Central Pacific Ocean (WCPO). Tuna Fisheries in the WCPO is managed under the WCPO Tuna Commission. The multi-gear Tuna Fisheries in the WCPO made an average annual catch of 2.2 million metric tons between 2005 and 2010. The average annual tuna catches in the PNA waters for the same period is 1.4 million mt representing 32% of the world catch and 64% of the WCPO. PNG's catch represent 54% of PNA and 34% of WCPO. At the 2011 tuna price of US$1, 800 per metric ton. The value of world catch is US$7.7 billion. The estimate value of raw tuna to PNA member Countries is US$2.5 billion and PNG is US$1.35 billion. The status of the principal species, (Skipjack) stock taken by Purse Seine Fishery in WCPO was in a very healthy status whilst the other two species, yellow fin and in particular the big eye stock was low and pose a management concern by the WCPO Tuna Commission.

Having understand this huge potential in revenue that can be gained from this industry, the government of this country should very much invest heavily into this industry as it is self-sustaining and a renewable resource. Currently we have foreign nations taking a huge chunk out of our tuna resource for their benefit giving very little back. Papua New Guinean's and those in power should open their eyes to this and come up with Policies and Laws to benefit local participation into this industry and phase out foreign companies.