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Aussie group eyes breeding plan for endangered tuna

04 Mar 2008 02:52:21 GMT
Source: Reuters

SYDNEY, March 4 (Reuters) - An Australian company said on Tuesday it had developed the first artificial breeding plan for the endangered southern bluefin tuna, in high demand for sashimi and sushi.

According to a 2006 report by Australian, New Zealand, South Korean and Japanese officials, southern bluefin tuna catches are unsustainable with an even chance that all fish capable of laying eggs will be gone by 2030 if current catch levels continue. Clean Seas Tuna Ltd <CSS.AX> said the successful collection of captive southern bluefin tuna sperm and eggs at its base in South Australia state could pave the way to year-round production of the fish.

The next step in commercialising the breakthrough would be to produce baby fish from the stored sperm and eggs, said Clean Seas Chairman Hagen Stehr.

Clean Seas, one of several Australian aquaculture companies that have listed on the stock exchange, said it was optimistic it would be able to emulate the success it had achieved with other species such as the yellowtail kingfish.

Increasing concern about depleting global fish stocks has led to a buoyant outlook for aquaculture, or fish farming, as health-conscious consumers drive demand for fish.

Shares in the company rocketed as much as 30 percent on Tuesday following its announcement. (Reporting by Ben Wilson; Editing by Jeremy Laurence)

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