Declining Prices of Frozen Indonesian Yellowfin Tuna Due to the Slow Market in the US in W4

Indonesian suppliers are bringing down their prices of frozen CO-treated yellowfin tuna (cuts: loin, saku, steak, poke, minced) in W4 for the US market to attract buyers' interest. The USA has been the primary consumer of Indonesian frozen CO-treated yellowfin tuna for a long time, but the market has been slowing down in the USA since the near end of 2022. Most Indonesian suppliers are intensively providing low and lower prices to potential US buyers to improve their sales. One of the suppliers in East Java is offering CFR prices to the US main ports at USD 5.30/lb on loins, USD 8.20/lb on saku, USD 4.90/lb on steaks, USD 3.15/lb on poke, and USD 2.65/lb on minced meat. The prices on W4 are USD 0.30 per lb lower on all cut types compared to the December 2022 prices.