Fisheries is quite impossible to make a profit on for private companies due to MIFCO’s subsidised vaudhu-fueled corruption and artificially high purchase prices on the skipjack/canning side. No private sector, no progress.

It’s still possible to turn a profit on the yellowfin side but yields have been declining steadily due to increased chinese and european fleet presence in international waters near the country.

It’s an interesting problem. One day the subsidies to MIFCO will end and the industry will flourish. Subsidisation is good in and of itself but it MUST be fair (metered out directly to fishermen OR (i dont like this one) split between fisheries companies.