Speculative buying patterns of Indonesian tuna from Malaysian buyers in the past week

Following the low offering FOB prices of tuna from tuna exporters in Indonesia (caused by the strengthening of the national exchange rate against the US dollar), there has been speculative buying behavior by a number of Malaysian buyers who purchased Grade-B and Grade-C skipjack tuna from exporters in Jakarta and Surabaya.

Over the past week, it was recorded that around 200 MT of skipjack tuna was purchased, causing a temporary supply shortage of skipjack to the national market. Based on the statement by exporters, the majority of this tuna was intended for further processing into canned tuna and animal feed by the end buyers.