ANALYSIS: Ecuadorian Government Ends Diesel Subsidies for Fishing Fleet and Current Tuna Market Trends
A statement published by The National Chamber of Fisheries (CNP) and the Ecuadorian Tuna Association (ATUNEC) on June 2 had expressed concern over the government’s plan to eliminate the diesel subsidy for the tuna sector. Both organizations explain that this will raise operational costs, reduce international competitiveness, and harm a key national industry. According to this document - which states that the Ecuadorian tuna fleet uses only 2.8% of Ecuador’s diesel - the subsidy’s removal would save $14.4 million annually. The statement reads in part, “...
To Read Full Story Login Below.