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Thai Union’s Profit Drops 50% in Q1 on Lower Sales and Higher Material Costs

Thai Union saw a decline in its total profits in the first quarter of 2023, despite a surprise boost from Red Lobster.

Profits fell mainly due to the lower sales combined with high tuna and salmon prices resulting in softer demand, according to Thai Union’s quarterly report, released 3 May.

Red Lobster, which Thai Union acquired in 2020, contributed a profit of THB 20 million (USD 590,700, EUR 535,120) to Thai Union’s bottom linein Q1 2023, “thanks to [the] seasonality and success of Lobsterfest campaign” compared to its THB 335 million (USD 9.9 million, EUR 8.9 million) loss in Q1 2022. Thai Union is considering an exit from Red Lobster after multiple years of losses, the Bangkok Post reported in March 2023. Continue reading here(Source: SeafoodSource).

Grupo Calvo Launches Lightweight Tuna Can

In the upcoming week, Tata Steel will uphold a sustainable packaging discovery it has produced in collaboration with Grupo Calvo at the METPACK 2023 exhibition in Essen, Germany. The new item called Protact will be launched alongside another innovation, the Vuelca Fácil® or ‘Easy Flip’ aluminium film lid.

Tata Steel’s partnership with Grupo Calvo has given birth to this new can format that curtails food waste, induces a circular economy and elevates the standards of lightweight packaging in the beverage sector.

Tata Steel’s Protact uses a revolutionary layering of polypropylene (PP) which is compatible with the newly enhanced direct seal module. This technology has been claimed to make a can 24 per cent lighter than the conventional weight. Continue reading here (Source: AICircle).

Climate Change to Impact Tuna Stocks

Climate change is going to have an effect on tuna stocks in the future due changes in the sea surface temperature.

This was highlighted by Dr Transform Aqorau, Vice Chancellor of Solomon Islands National University (SINU), in a talkback show over the national broadcaster to mark the World Tuna Day yesterday.

Dr Aqorau said because of the changes to the climate situation globally, tuna stocks in the Pacific region would be affected in the years to come. Continue reading here (Source: Solomon Star).

Pacific-First As Climate and Fisheries Experts Come Together to Focus on Climate Change Response for Offshore Fisheries

Improving the region’s resilience to the potential impacts of climate change on the annual tuna income and livelihoods of millions of Pacific Islanders, was a key focus of the  Inaugural Regional Meeting on Climate Change in the Context of Tuna Fisheries.

In a Pacific-first, the meetingbrought together Fisheries and Climate Change officials from Member countries to discuss the regional response to the impacts of climate change on Pacific offshore fisheries. It was a key step in the development of the Pacific Islands Forum Fisheries Agency’s (FFA) climate change strategy. The strategy aims to support regional and national responses to climate change in the context of oceanic fisheries.

Speaking at the event, FFA’s Director General Dr Manu-Tupou-Roosen said: “..we’d like to draw your attention to the ‘not so visible’ slow onset impact of climate change to one of our critical sectors- the offshore fisheries sector.” Continue reading here (Source: Pacific Islands Forum Fisheries Agency).

The Nature Conservancy Announces Expansion of First Drifting Fish Aggregation Device Partnership

This year on World Tuna Day, The Nature Conservancy (TNC) Hawai‘i and Palmyra announces the expansion of the first drifting Fish Aggregation Device (dFAD) partnership with commercial purse seine tuna vessels in the Pacific Ocean.

The partnership formally began in June 2021 with the U.S. Pacific Purse Seine Tuna Group; soon thereafter, the Cape Fisheries fleet joined. In 2023, it more than doubled in size with the addition of the Spanish Pacific Asociaicón de Grandes Atuneros Congeladores (AGAC) purse seine fleet.

“We commend the purse seine industry partners for their commitment to TNC and this conservation action by covering many costs of the program and approving crucial amendments to the scientific data being collected from their fishing devices,” says Kydd Pollock, Pelagic Conservation Strategy Lead for TNC. Continue reading here (Source: The Nature Conservancy).

ISSF Participating Companies Commit to New Conservation Measures

The International Seafood Sustainability Foundation (ISSF) has adopted a new conservation measure requiring its participating seafood companies to transparently report against progress in meeting the 5-year goal of the organization’s new Strategic Plan. ISSF Conservation Measure 2.5 – Transparency in Reporting Progress Against ISSF Five-Year Goal supports the goal of ISSF’s 2023-2037 Strategic Plan, Continuously Improving Global Tuna Fishery Sustainability, which states: 

“By the end of 2027, all tuna fisheries from which ISSF participating companies source can meet and maintain the MSC certification standard or there is a clear roadmap and timeline in place to meet this standard that is underpinned by the best-available science.”

Continue reading here (Source: International Seafood Sustainability Foundation).