The Liverpool-based company, a major supplier of tuna to UK supermarkets, said the move would mean buying 16,000 fewer tonnes of Indian Ocean yellowfin per year by 2022.

It follows an announcement by Tesco last month that it would stop sourcing tuna from the Indian Ocean unless a plan is implemented to reduce catch levels and restore the fish population. Co-Op also reaffirmed its commitment not to sell any own-brand yellowfin tuna.

Stocks of tuna have dropped rapidly in the Indian Ocean after years of overfishing, with environental groups warning that urgent action is now needed.

However the management body that oversees fishing in the area, the Indian Ocean Tuna Commission (IOTC), has failed to reduce quotas.

Princes said it had already reduced its catch in the region by 40 per cent and hoped its additional voluntary cut would pressure the IOTC to take action ahead of its annual meeting in November.  

Neil Bohannon, group director for fish at Princes, said the company had supported a reduction of yellowfin catch in line with scientific advice.

"Our action alone however will not be enough, the IOTC needs to take action to with all gear types and fleets to reduce catches by 25 per cent from 2017 levels," he said.

“It is clear we need a credible recovery plan to be agreed by all parties, delivering stock rebuilding within two generations. With our voluntary reduction of Indian Ocean yellowfin in excess of the scientific advice, we are demonstrating our commitment in supporting this recovery”.

He added: "Sustaining the seafood economy is reliant on long term sustainable tuna and the IOTC needs to show leadership and take firm action."

Marcel Kroese, WWF’s global tuna leader, said: “The species is in a critical state and a plan to rebuild a healthy stock is urgently needed. The Indian Ocean Tuna Commission meeting in November is an important opportunity for member states to come together to act to save the yellowfin tuna stock from collapsing.”

The Global Tuna Alliance, a group of retailers and suppliers, has proposed a 25 per cent cut to tuna catches in the Indian Ocean. It estimated that would allow stocks to recover to a sustainable level within two generations.

Executive director of the Global Tuna Alliance, Dr Tom Pickerell, said: “This is a very important announcement by Princes. Action is urgently needed on overfished yellowfin stocks, and it is great to see an individual company making such significant strides. 

"What is crucial now is that the IOTC supports these efforts with a formalised and scientifically sound rebuilding plan – this is what the Global Tuna Alliance has been asking of all IOTC delegates. If properly managed there will be enough tuna for everyone – it’s not rocket science; a 25 per cent cut in catches now will rebuild the stock”.