Economic Profile of Atlantic Bluefin Tuna in the Gulf Region
Economic Profile of Atlantic Bluefin Tuna in the Gulf Region DFO – Gulf Region May 2008
Overview World Tuna Markets Atlantic Bluefin Tuna West Atlantic Bluefin Tuna Bluefin Tuna in Canada Economic Profile of Bluefin Tuna in the Gulf Region
Tuna Markets
Landings in 2006 according to the FAO
Volume (x 1,000 m.t.)
2,481
1,129
285
413 33
Skipjack Yellowfin Albacore CANNED TUNA
Bigeye
13
Atlantic Southern bluefin bluefin
4
Pacific bluefin
TUNA FOR DIRECT CONSUPTION : SASHIMI & OTHER USE Source : FAO, compilation DFO-PEB, Gulf Region
Atlantic Bluefin Tuna
Distribution and Geographical Boundary Tuna fishery in Canada 45o O
Mediterranean Sea
Gulf of Mexico
West Atlantic
East Atlantic
Source: ICCAT
Atlantic Bluefin Tuna
Historical Landings by ICCAT Management Area West Atlantic
East Atlantic & Mediterranean
60
Volume (x 1,000 m.t.)
50 40 30 20 10
2006
2004
2002
2000
1998
1996
1994
1992
1990
1988
1986
1984
1982
1980
1978
1976
1974
1972
1970
Source: ICCAT, compilation DFO-PEB, Gulf Region
West Atlantic Bluefin Tuna Historical Landings by Country Canada
United States
Japan
Others
8
6 5 4 3 2 1 2006
2003
2000
1997
1994
1991
1988
1985
1982
1979
1976
1973
0 1970
Volume (x 1,000 m.t.)
7
Source: ICCAT, compilation DFO-PEB, Gulf Region
Bluefin Tuna in Canada Landings by Fishing Area m.t.
400 350 300
Newfoundland
New Brunswick
250 Bay of Fundy
Gulf of St Lawrence
Nova Scotia
Grand Bank
Canso
200 St Margaret’s Bay
150 100
Hell Hole
Offshore
Georges Bank
50
Offshore
Newfoundland
Eastern Nova Scotia
Gulf of Saint Lawrence
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
0
Western Nova Scotia
Source: National Reports - Canada, 1996-2006, compilation DFO-PEB, Gulf Region
Bluefin Tuna in Canada
Historical Landings by Inshore Fleet m.t.
250
200
150
100
0
96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06
50
PEI
SW NS
NL
Gulf NS
St Margaret's Bay
Gulf NB
Quebec
Source: DFO, compilation DFO-PEB, Gulf Region
Bluefin Tuna in Canada in 2006 Licences by DFO Region and Quotas & Landings by Fleet Quota
m.t.
300
Landings
% of inshore fleet quota
Region
250
Number of licences
Gulf 30%
200 22%
150
602
Newfoundland
55
Quebec
54
Maritimes
42
St. Margaret’s Bay *
24
Total 13%
100
777
* Four fish trap licence holders with 6 bluefin trapnet licences each
12%
12% 6%
50
5%
0 PEI
SW NS
NL
Gulf NS
StMagaret's Bay
Gulf NB
Quebec
Pelagic longline
Offshore
Source: DFO, compilation DFO-PEB, Gulf Region
2007p
Quotas and Landings by Fleet in Canada m.t.
160
30%
140 120
Quota
Landings
% of inshore fleet quota
21.7%
100 80
12.8%
60
11.3% 11.3% 7.8%
40
5.1% 20 0 PEI
SW NS
NL
Gulf NS
St Magaret's Gulf NB Bay
Quebec
Pelagic longline
Offshore
Source: DFO, compilation DFO-PEB, Gulf Region
Bluefin Tuna in the Gulf Region
By Gulf Region’s Licence Holders, by Homeport in 2006 ENB
GNE
PEI
TOTAL
Licences issued
108
125
359
592
Tags issued
145
431
1,130
1,706
38
73
256
367
271
1,409
4,936
6,616
Trips with bluefin tuna
54
140
741
935
Active licences with landings
14
49
191
254
Active licences Trips at sea
LANDINGS Volume (metric tons)
19.2
43.8
237.3
300.3
Value ($ thousand)
710
339
3,386
4,436 Source: DFO
Tuna markets
Price determination Color of muscle tissue
Texture
Flesh
Fat Content
Generally bluefins and bigeye
Bright red
Firm
Translucent
High
Top quality sashimi in Japan
Fresh (chilled on board)
1
Bright red
Firm
Translucent
Low
Good quality sashimi in Japan
Fresh (chilled on board)
Grade 1+
Highest to lowest value
2 “A” Grade
3 “A” or “B” Grade
4
Red
Firm
Market
Lower-end sashimi in Japan
Some translucency
No Tuna steaks in Europe and USA
Fresh/Frozen
Fresh (chilled on board) Or Sea-frozen
Some red and some brown
Firm
Opaque
No
Tuna steaks in Europe and USA
Sea-frozen
Brown and grey
Soft
Opaque
No
Canned tuna
Land-frozen
Source: FAO/GLOBEFISH. World Tuna Markets, 2004
Bluefin Tuna in the Gulf Region 800
8,000
700
7,000
600
6,000
500
5,000
400
4,000
300
3,000
200
2,000
100
1,000
-
-
# bluefin tunas kg/bluefin tuna CAD/bluefin tuna
July
August
September
October
November
24 257 3,794
693 310 4,277
139 355 5,659
112 363 7,036
2 266 5,223
CAD/bluefin tuna
# bluefin tunas
Price and Landings in 2006
Source: DFO, compilation PEB, Gulf Region
2007p
700
7,000
600
6,000
500
5,000
400
4,000
300
3,000
200
2,000
100
1,000
0 # bluefin tunas kg/bluefin tuna CAD/bluefin tuna
July
August
September
October
41 299 3,213
173 279 4,914
292 363 3,610
117 384 6,335
CAD/bluefin tuna
# bluefin tunas
Price and Landings in the Gulf Region
0
Source: DFO, compilation PEB, Gulf Region
Canadian Bluefin Tuna Market 550
Japan (m.t.)
USA (m.t.)
Value ($000)
11,000
500
10,000
450
9,000
400
8,000
350
7,000
300
6,000
250
5,000
200
4,000
150
3,000
100
2,000
50
1,000
Nova Scotia
Prince Edward Island
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
0
$000
m.t.
Exportations (Volume – Value) by Province and by Destination Country
Newfoundland Source: Statistics Canada, compilation DFO-PEB, Gulf Region
Bluefin Tuna Outlook
Mercury Issue Stocks Decline / Pressure from Environmental Groups Canada-US Exchange Rate Variation/Economic Slowdown Emerging Markets
Financial Performance
Lobster Harvesters diversified for Bluefin Tuna, Gulf Region 2006
Fishery Revenue
124,901 $
Variable costs
26,316 $
Fixed costs
15,691 $
Labour costs
15,441 $
Financing costs (interest and capital)
20,583 $
Total costs
78,031 $
Net income before taxes
46,870 $
Source: DFO
Overview World Tuna Markets Atlantic Bluefin Tuna West Atlantic Bluefin Tuna Bluefin Tuna in Canada Economic Profile of Bluefin Tuna in the Gulf Region
Tuna Markets
Landings in 2006 according to the FAO
Volume (x 1,000 m.t.)
2,481
1,129
285
413 33
Skipjack Yellowfin Albacore CANNED TUNA
Bigeye
13
Atlantic Southern bluefin bluefin
4
Pacific bluefin
TUNA FOR DIRECT CONSUPTION : SASHIMI & OTHER USE Source : FAO, compilation DFO-PEB, Gulf Region
Atlantic Bluefin Tuna
Distribution and Geographical Boundary Tuna fishery in Canada 45o O
Mediterranean Sea
Gulf of Mexico
West Atlantic
East Atlantic
Source: ICCAT
Atlantic Bluefin Tuna
Historical Landings by ICCAT Management Area West Atlantic
East Atlantic & Mediterranean
60
Volume (x 1,000 m.t.)
50 40 30 20 10
2006
2004
2002
2000
1998
1996
1994
1992
1990
1988
1986
1984
1982
1980
1978
1976
1974
1972
1970
Source: ICCAT, compilation DFO-PEB, Gulf Region
West Atlantic Bluefin Tuna Historical Landings by Country Canada
United States
Japan
Others
8
6 5 4 3 2 1 2006
2003
2000
1997
1994
1991
1988
1985
1982
1979
1976
1973
0 1970
Volume (x 1,000 m.t.)
7
Source: ICCAT, compilation DFO-PEB, Gulf Region
Bluefin Tuna in Canada Landings by Fishing Area m.t.
400 350 300
Newfoundland
New Brunswick
250 Bay of Fundy
Gulf of St Lawrence
Nova Scotia
Grand Bank
Canso
200 St Margaret’s Bay
150 100
Hell Hole
Offshore
Georges Bank
50
Offshore
Newfoundland
Eastern Nova Scotia
Gulf of Saint Lawrence
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
0
Western Nova Scotia
Source: National Reports - Canada, 1996-2006, compilation DFO-PEB, Gulf Region
Bluefin Tuna in Canada
Historical Landings by Inshore Fleet m.t.
250
200
150
100
0
96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06 96 97 98 99 00 01 02 03 04 05 06
50
PEI
SW NS
NL
Gulf NS
St Margaret's Bay
Gulf NB
Quebec
Source: DFO, compilation DFO-PEB, Gulf Region
Bluefin Tuna in Canada in 2006 Licences by DFO Region and Quotas & Landings by Fleet Quota
m.t.
300
Landings
% of inshore fleet quota
Region
250
Number of licences
Gulf 30%
200 22%
150
602
Newfoundland
55
Quebec
54
Maritimes
42
St. Margaret’s Bay *
24
Total 13%
100
777
* Four fish trap licence holders with 6 bluefin trapnet licences each
12%
12% 6%
50
5%
0 PEI
SW NS
NL
Gulf NS
StMagaret's Bay
Gulf NB
Quebec
Pelagic longline
Offshore
Source: DFO, compilation DFO-PEB, Gulf Region
2007p
Quotas and Landings by Fleet in Canada m.t.
160
30%
140 120
Quota
Landings
% of inshore fleet quota
21.7%
100 80
12.8%
60
11.3% 11.3% 7.8%
40
5.1% 20 0 PEI
SW NS
NL
Gulf NS
St Magaret's Gulf NB Bay
Quebec
Pelagic longline
Offshore
Source: DFO, compilation DFO-PEB, Gulf Region
Bluefin Tuna in the Gulf Region
By Gulf Region’s Licence Holders, by Homeport in 2006 ENB
GNE
PEI
TOTAL
Licences issued
108
125
359
592
Tags issued
145
431
1,130
1,706
38
73
256
367
271
1,409
4,936
6,616
Trips with bluefin tuna
54
140
741
935
Active licences with landings
14
49
191
254
Active licences Trips at sea
LANDINGS Volume (metric tons)
19.2
43.8
237.3
300.3
Value ($ thousand)
710
339
3,386
4,436 Source: DFO
Tuna markets
Price determination Color of muscle tissue
Texture
Flesh
Fat Content
Generally bluefins and bigeye
Bright red
Firm
Translucent
High
Top quality sashimi in Japan
Fresh (chilled on board)
1
Bright red
Firm
Translucent
Low
Good quality sashimi in Japan
Fresh (chilled on board)
Grade 1+
Highest to lowest value
2 “A” Grade
3 “A” or “B” Grade
4
Red
Firm
Market
Lower-end sashimi in Japan
Some translucency
No Tuna steaks in Europe and USA
Fresh/Frozen
Fresh (chilled on board) Or Sea-frozen
Some red and some brown
Firm
Opaque
No
Tuna steaks in Europe and USA
Sea-frozen
Brown and grey
Soft
Opaque
No
Canned tuna
Land-frozen
Source: FAO/GLOBEFISH. World Tuna Markets, 2004
Bluefin Tuna in the Gulf Region 800
8,000
700
7,000
600
6,000
500
5,000
400
4,000
300
3,000
200
2,000
100
1,000
-
-
# bluefin tunas kg/bluefin tuna CAD/bluefin tuna
July
August
September
October
November
24 257 3,794
693 310 4,277
139 355 5,659
112 363 7,036
2 266 5,223
CAD/bluefin tuna
# bluefin tunas
Price and Landings in 2006
Source: DFO, compilation PEB, Gulf Region
2007p
700
7,000
600
6,000
500
5,000
400
4,000
300
3,000
200
2,000
100
1,000
0 # bluefin tunas kg/bluefin tuna CAD/bluefin tuna
July
August
September
October
41 299 3,213
173 279 4,914
292 363 3,610
117 384 6,335
CAD/bluefin tuna
# bluefin tunas
Price and Landings in the Gulf Region
0
Source: DFO, compilation PEB, Gulf Region
Canadian Bluefin Tuna Market 550
Japan (m.t.)
USA (m.t.)
Value ($000)
11,000
500
10,000
450
9,000
400
8,000
350
7,000
300
6,000
250
5,000
200
4,000
150
3,000
100
2,000
50
1,000
Nova Scotia
Prince Edward Island
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
0
$000
m.t.
Exportations (Volume – Value) by Province and by Destination Country
Newfoundland Source: Statistics Canada, compilation DFO-PEB, Gulf Region
Bluefin Tuna Outlook
Mercury Issue Stocks Decline / Pressure from Environmental Groups Canada-US Exchange Rate Variation/Economic Slowdown Emerging Markets
Financial Performance
Lobster Harvesters diversified for Bluefin Tuna, Gulf Region 2006
Fishery Revenue
124,901 $
Variable costs
26,316 $
Fixed costs
15,691 $
Labour costs
15,441 $
Financing costs (interest and capital)
20,583 $
Total costs
78,031 $
Net income before taxes
46,870 $
Source: DFO
