MAJURO, MARSHALL ISLANDS, 7 AUGUST 2013: The Parties to the Nauru Agreement (PNA) has dramatically increased the value of tuna caught in its waters in the last two years according to new data released Wednesday.
In 2010, the amount of tuna caught was valued at USD 1.9 billion, with only USD 60 million of that going to PNA nations. By 2012, the overall value increased to over USD 3 billion, with revenue to PNA countries more than tripling to USD 229 million.
This year, PNA Office projects that fisheries revenue will increase to nearly USD 3.9 billion, with the PNA share rising to USD 249 million – a quadrupling of revenue to the islands compared to 2010.
Dr Transform Aqorau, PNA’s CEO, said the increase in the value of the fishery and PNA’s share is entirely related to the fisheries management and business initiatives enforced by the eight nations since 2010. These include a hard limit on number of fishing days sold to fishing companies, which increases the value of fishing days, as well as the current benchmark price of USD 5,000 per day – a near tripling of the price from several years ago.