Week 37 tuna market: Ecuadorian skipjack holds firm, Indian Ocean prices fall under pressure

In Manta, Ecuador, the price of tuna remains high, with ex-factory prices stable at $1,650-$1,700 per ton. Industry insiders point out that the price of yellowfin tuna (over 20 pounds) in the eastern Pacific Ocean is $1,850-$1,900 per ton. As yellowfin tuna still dominates the catch, this has driven canneries to increase their purchasing interest in tuna, supporting the firm prices.

In contrast, the market in Thailand, one of Asia's largest canning processing sites, sees tuna transactions still maintaining a range of $1,500-$1,600 per ton CFR. Although major buyers are adopting a wait-and-see attitude, the overall market remains stable.

In the Indian Ocean, tuna prices have clearly softened, currently around $1,320 per ton, slightly down from the previous €1,330 per ton. Improved fishing conditions have led buyers to lower their offers, while large yellowfin tuna are priced at €1,800 per ton. However, due to the weakening European market and global oversupply, there is still downward pressure on prices going forward.

In the European market, the price of tuna in Spain remains at €1,600-1,650 per ton, while the price of yellowfin tuna has declined to around €2,000 per ton due to ample supply. Abundant catches in the northern part of the Atlantic Ocean, particularly in Mauritania and Cape Verde, continue to exert pressure on the market, with active fishing by Spanish and South Korean fleets.

Overall, the price of tuna in the Ecuadorian market shows resilience, but prices in the Indian Ocean are weak, and with the oversupply of yellowfin tuna, there is still a risk of price volatility in the global tuna market in the future.