News

Mediterranean tuna ranches are feeling the pinch after the European Union moved to prevent the depletion of fish stocks.

"For 2008, we will probably process only 500 tons," said Saviour Caruana, a co-owner of Fish and Fish, a bluefin tuna ranch with a capacity of 1 200 tons.

"I had given a deposit of €500 000 (about R6-million) to one fisherman for his catch in 2008, but because the EU closed the fishing season earlier he didn't even catch a single tuna," Caruana said.

"Some fishermen will go bankrupt, and this is not good for us and the 26 people we employ on the farm."

Citing fears that quotas were being filled too quickly, the European Union called an early end to industrial tuna fishing on June 16, at the peak of 2008's season...