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Business

Actual value of Tuna sector needs to be realized: Kumar

April 6, 2023 4:18 pm

A high-level economic study is needed to determine the actual value of the tuna sector, including its true contribution to the nation’s coffers.

Fiji Fishing Industry Association President, Radhika Kumar, says this includes their direct contribution and the whole supply chain locally, including Fiji-flagged sea and air freight platforms.

A lot more needs to be done in the tuna sector, especially with the economic growth imbalance experienced.

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“In 1999, the cost of fuel was $0.46 per litre; now it is $2.50 per litre. Increase of approximately 430%. Comparing with the tuna price of 1993 that was US $2000 per tonne to the current price of US $3000 and an increase of approximately 50 percent.”

Kumar says the sector was sidelined for the past several years because it had to thrive on its own.

“Unfortunately, we have been well outside the radar of the past government for many years, and despite our repeated requests for assistance, only leftovers came our way, unlike the other known sectors.”

A two-day tuna symposium was recently conducted to strengthen dialogue, create sustainable livelihoods, promote employment, social responsibility, and value creation in Fiji’s domestic tuna industry.