Multi-million-dollar tuna auctions to debut in Vietnam

VOV.VN - The south-central province of Phu Yen will host several multi-million-dollar tuna auctions in the future following a memorandum of understanding (MoU) it recently signed with Japan’s Kiyomura Corporation, according to Ho Thi Nguyen Thao, vice chairman of the provincial People's Committee.

Under the MoU, the two sides will share experience and increase cooperation in a fisheries development model, focusing on technology, management, and marketing activities of aquatic products, especially tuna.

According to Thao, the Japanese side has planned to invest in an auction market at Dong Tac Tuna Port, which is anticipated to increase the overall value and develop the local tuna industry in Phu Yen in a sustainable manner.

In fact, local  fishermen sometimes catch some tuna weighing between 200 – 300 kilos each that are only sold for less than VND100 million, equivalent to less than US$4,500 – a price which is much cheaper than in the Japanese market. Poor quality of tuna, along with outdated fishing and post-harvest preservation technologies are partly to blame, said Thao.

“With Kiyomura boasting strengths in tuna exploitation, processing, and consumption, we do hope there will be a drastic change in terms of fishing methods and tuna prices within the local market in the future,” Thao told VTC Newswire.

Currently, Phu Yen catches between 3,000 – 5,000 tonnes of tuna a year and its annual output is expected to rise to between 7,000 and 10,000 tonnes if the cooperation model is successful.

To seize opportunities, Thao suggested that the local tuna industry modernise fishing vessels, equipment, and technology of exploitation, train human resources, and upgrade infrastructure.

She also underscored the importance of co-operation with Kiyomura Corporation to receive greater support for technology transfer in terms of exploitation and processing to enjoy advantages in the future.  

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