In W42 in the tuna landscape, the Spanish Ministry of Agriculture, Fisheries and Food has issued an order allowing the joint management of freezer tuna purse seine vessels authorized for tropical tuna fishing in the Indian Ocean for the 2023 campaign. This measure promotes collaborative efforts in the industry.
Ecuador's fishing and aquaculture sectors experienced varied performance, with a 4% decrease in income, resulting in a turnover of USD 6.133 million. Notably, the export of tuna and fish faced the most significant impact this year, with a 31% decline in sales attributed to warming sea temperatures, resulting in a total of USD 199 million in revenue.
Moreover, the El Niño weather phenomenon is expected to persist through at least the first half of 2024, causing abnormal rainfall in Latin America, raising concerns for the agricultural sector. The report from the Food and Agriculture Organization of the United Nations (FAO) highlights warmer Pacific sea surface temperatures, with the South American coast experiencing stronger warming. Forecasts for Q1-24 indicate increased rainfall in southern cone countries like Peru, Ecuador, and Mexico, with ongoing dry conditions in Brazil, Guyana, and Suriname. Central America's current dry spell is expected to end by year's end. This will cause potential economic losses of up to 82% during drought. Key fish species in northern Peru and southern Ecuador, like anchovies and tuna, are particularly at risk, with Ecuadorian tuna catches already down 30% since Feb-23.