Sanford gets teeth into toothfish

By IRENE CHAPPLE

Listed fishing company Sanford this week sent off its ship San Aotea II to catch toothfish in South Georgia and South Sandwich Island seas after becoming the first New Zealand company licensed to fish the area.

Toothfish retails for $30/kg to $40/kg and the deal could earn Sanford about $3 million in sales.

Previously, the company has fished for the species in the New Zealand-administered Ross Sea. The new deal, says managing director Eric Barratt, "has the potential to double our involvement in the toothfish industry".

The South Georgia and South Sandwich Islands are administered by the Falkland Islands and between 12 and 14 licences have been granted for the season that begins next month.

The toothfish has been a lucrative catch for pirate fishers, and lobbyists such as Greenpeace have previously called for a ban on sales.

Barratt says a new catch documentation system has made it more difficult for the pirates. But the fish should be marketed so consumers know it was legally caught.

Sanford recorded sales revenue of $393 million for the year to last August 31, with a profit of $37 million.

Patagonian toothfish

* Sub-Antarctic species, found around Kerguelen, South Georgia, Heard and Macdonald Islands.

* Lifespan: 50 years.

* Size: up to 2m.

* Retail value: $30/kg to $40/kg.

* Main catchers: Argentina, Australia, Chile, France, South Africa, Britain.

* Main consumers: Japan, United States