The Pacific Islands Forum Fisheries Agency (FFA) has unveiled a comprehensive report analyzing the evolving global tuna markets and trade dynamics within the Western and Central Pacific Ocean (WCPO). This report, titled “Tuna Markets and Trade Dynamics: Western and Central Pacific Ocean,” sheds light on the significant transformations occurring in the international tuna industry and their implications for Pacific Island nations.
The report identifies several factors driving change in global tuna markets, including shifting consumer preferences, disruptions in supply chains, inflationary pressures, geopolitical uncertainties, and an increasing emphasis on sustainability. Funded by the Japan Promotion Fund (JPF), the report aims to equip FFA Member countries with updated market insights to navigate current and emerging trends in the global tuna sector. Significantly, it acknowledges the Pacific region’s critical role as a source of over half of the world’s tuna supply, while pointing out that most processing and trading activities occur outside these countries, limiting the economic benefits that coastal states can capture.
Spanning the period from 2022 to 2025, the report provides an in-depth analysis of the global tuna industry’s dynamics from the perspective of Pacific Island nations, which are integral to sustainable fisheries management. It highlights the increasing competitiveness and volatility of global tuna markets, influenced by consumer demand fluctuations, sustainability and traceability pressures, and external challenges including climate change impacts and rising fuel costs.
While major multinational corporations maintain dominance in processing and branding, Pacific Island countries play a crucial role in the global tuna industry through their responsible management of WCPO tuna resources and frameworks such as the Vessel Day Scheme. The report ventures into the activities of significant global firms, emerging players from Asia, and the implications of evolving environmental, social, and governance (ESG) trends on trade.
The analysis reveals that Pacific Island countries possess substantial leverage through resource ownership and access, allowing for regional cooperation to secure fishery value with relatively manageable risks. Conversely, the report warns that progressing into harvesting and onshore processing could expose these nations to higher financial risks amidst intense global competition, especially in the face of limited market access and branding power.
FFA Director-General Noan David Pakop emphasized the report’s role in fostering evidence-based decision-making among Member nations. He stated, “These insights help our Members understand how global developments are shaping the Pacific tuna industry. They support better planning to manage risks, identify opportunities, and secure long-term economic benefits from sustainably managed tuna resources.”
This report serves as a vital resource for policymakers, fisheries managers, and industry stakeholders, guiding the region’s response to the shifting global seafood market while ensuring the conservation of tuna stocks. It builds upon previous FFA market studies and bolsters regional efforts like the East New Britain Initiative (ENBi), illustrating a commitment to enhancing the collective position of Pacific nations in the global tuna trade. Overall, the report is a testament to the importance of sustainable practices in securing long-term economic viability for Pacific peoples.
Leave a comment