What ails Tuna?
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PD20100202_B2Excerpt
January ended as a big disappointment. One stock that ended similarly for the period was Alliance Tuna International Inc. (TUNA). Plummeting like a falling hard rock, TUNA’s share price was already down 18.26 percent last Friday, Jan. 29, from its trading high of P2.08 at the start of the year. The overriding reason that may fundamentally explain for the poor performance of the shares of TUNA is said to be about the implications of the decision to close part of the western central area of the Pacific Ocean from fishing operations involving high pocket fishing, Philippine payaw fishing and purse seine fishing—all of which are high volume-catch methods—by the Western and Central Pacific Fisheries Commission (WCPC). According to the Socsargen Federation of Fishing and Allied Industries (SFFAI), the closure that started last Jan. 1, 2010, will significantly affect the country’s tuna catch to about 10 to 20 percent.
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Somera, D. (2010, February 2). What ails Tuna?. Philippine Daily Inquirer, p. B2.
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- Philippine Daily Inquirer [1837]