Thailand's tuna (skipjack tuna) prices continue to fall, and may drop to $1,250/ton in September

Published 2024년 8월 28일

Tridge summary

The article provides an overview of the dynamics of tuna prices in the market, with a focus on Thai and Ecuadorian markets. It highlights that Thai tuna prices have been on a downward trend since mid-August, driven by Thai canned food manufacturers' strategy to keep costs low for future contract negotiations and compete with Ecuador. The stable supply from the Western Pacific, especially Papua New Guinea, also pressures the prices. In contrast, the European market is sluggish with prices around €1,600/ton, while Ecuadorian markets see prices ranging from $1,350 to $1,375/ton, which might not continue to fall due to a fishing moratorium and large cannery orders. Yellowfin tuna prices are also under downward pressure due to strong production in the Indian Ocean.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

From the end of July to the beginning of August, the price of Thai tuna was as high as $1,550/ton, and fell to $1,450/ton in mid-August. The price has been falling in the past two months. UCN sources believe that the current downward trend shows that Thai canned food manufacturers hope to keep prices at a very low level in order to gain more cost advantages in future order contracts, especially to fight a price war with Ecuador. In addition, the supply of fishing in the Western Pacific is relatively stable, especially the strong production in the waters of Papua New Guinea, which has brought more downward pressure on prices. A European buyer said that the recent transaction prices in Bangkok were $1,280-1,290/ton, and have not fallen below $1,250/ton, and the downward trend is more obvious. Another Asian source said: "We heard that Thai processing plants lowered the price to $1,250/ton, but were resisted by ship owners. Thai factories want to compete with Ecuador, so Trying to ...
Source: Foodmate

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