Local bluefin tuna fishermen are set to receive financial aid to make up for a drop in prices, with the European Commission approving a €720,000 Maltese scheme to help the sector. 

The Commission approved the scheme under a revised, temporary framework for state aid designed to allow countries to support industries which were disrupted by the coronavirus pandemic. 

Aid to tuna fishermen will be calculated based on the quota assigned by the Department of Fisheries and Aquaculture to bluefin tuna fishermen in 2020 and will be capped at €120,000 per beneficiary. 

In a statement on Monday announcing the decision, the EU Commission said that the measure “is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework.” 

Bluefin tuna is one of the most highly prized fish on international markets, but market prices have declined by as much as 30 per cent this year as a result of the coronavirus pandemic. 

Malta’s multi-million bluefin tuna industry has come under the spotlight in recent years following international investigations into malpractice concerning local players.

Spanish authorities are currently investigating a €20m-a-year tuna racket with its roots in Malta and earlier this year the EU opened infringement proceedings against the Maltese government for having failed to ensure adequate oversight and monitoring systems for the sector.