Blue North Fisheries are expecting a big fish to take their spot in the world’s blue-fin tuna market.
That is unless the fish is a rare species, the biggest and most sought-after of the sea’s most sought after species.
The blue-nosed tuna is one of the most popular fish in the global seafood trade, and the world catches more than 10m tonnes of it each year.
It is one species that is considered to be more valuable than tuna.
Blue-nose tuna can be caught in the wild and at sea, but its value is driven by the demand for its shell, or “stinger”, which is a large, tough, sharp, white, gelatinous organ.
When caught, it is then sold as “catch”.
“It’s like a unicorn,” says Peter Smith, Blue North’s chief executive.
“The price is up, the catch is up.
And there are no more opportunities for people to catch it in the market.”
It’s not just fish buyers who have a big appetite for blue-Nose tuna.
“It has an incredible appeal,” says Smith.
“If you want to buy a lot of tuna, it’s the perfect item to go with that.”
This is why Blue North is working with an international team to produce a “blue-nosing” tuna.
Its name is inspired by the “blue” in the name of the fish’s natural colour.
“There is no doubt it’s going to be something for the seafood market, especially if we can produce a great-value fish for it,” says Mr Smith.
The team is developing a technology called a “fishing robot” which can take a photograph of the tuna and then feed it to a specially designed computer.
The robot will then take photos of the blue-winged gull to determine whether it is a blue-tail or a white-naked white-sided gull.
The fish is then tagged with an array of colour markers which are then compared to the fish records to determine if it is an official or a non-official fish.
“Our team are doing some amazing work to create a great product that will be used by fish buyers around the world,” says Mike Jones, the chief executive of Blue North.
It’s all part of a larger plan to produce about $30m worth of blue-na-tail fish each year, according to Mr Smith, the worlds largest blue-tailed tuna breeder.
Blue North will not be the only company involved in this project.
Blue Sea Foods, which has a market value of $25m, has been producing blue-Na-Tuna fish since 2002.
It now has a factory in Sydney, Australia, which produces about 80% of the world market.
It will also produce blue-Totem fish, a smaller, more valuable species that have a high market value and have a much higher market share.
Blue sea has not announced any fish prices.
It has said it is “taking a look at its market and potential fish supply to see if there is a demand for a blue fin tuna that can be used as a replacement for other tuna”.
However, it will have to be careful not to get ahead of itself.
“We’re not sure we have the scale and capacity to produce enough blue-natured white-fin to fill a market that will require that level of fish,” says Jones.
It may not be a long time before there are more blue-fished fish available for the global market.
“You can have a great fish and you can produce some good quality and good value and that’s the way it should be,” says Roberts.
“But you can’t go overboard and start selling to the market for a few million dollars a piece.”
Blue Ocean, a marine fish specialist in Sydney and Brisbane, says there is still a lot to be done to find out what is the best way to make blue-tuna for sale.
“I’m not sure there is enough information out there to make a definitive judgment on what the best product is,” he says.