According to feedback from multiple traders, in Week 27 (June 30 - July 6), the transaction average price for frozen skipjack tuna from Bangkok, Thailand (1.8-3.4 kg, CFR) has rebounded to $1,630 per ton, rising by about $35 compared to the previous month, officially ending the continuous decline since late May.
This rebound primarily benefited from the market's natural correction after prices dropped too quickly, as well as the expected gaming from the pending US-Thai trade agreement. Currently, most Thai canneries are taking a wait-and-see approach, waiting for the US to officially announce its tariff policy on Thai processed tuna products. Once the 20% punitive tariff is implemented, it could deal a heavy blow to exports and disrupt the price curve again.
The non-preferential skipjack tuna price in the Philippines' General Market remains stable at $1,630 per ton, essentially on par with Thailand, indicating that the market has confirmed the price bottom in the Asian market. Meanwhile, the offshore price of skipjack tuna in Manta Port, Ecuador, continues to remain stable, reflecting that the supply and demand rhythms in different sea areas are not yet fully synchronized.
European Market
Price Increase Brewing, Fishing Weakness is the Main Reason
Compared to the cautious recovery in the Asian market, skipjack tuna prices in the European market are facing upward pressure. According to suppliers from Seychelles, due to recent fishing slowdown, local supply is tightening, with quotes already 100 euros per ton higher than last month, and expected to further increase by 50 euros per ton.
Currently, the Indian Ocean skipjack tuna price in the Spanish market is maintained at 1,600 euros per ton, Atlantic skipjack at 1,550 euros per ton, while yellowfin tuna remains stable between 2,200-2,250 euros per ton.
Although some Spanish processors are trying to push prices to 1,400 euros per ton, the market generally believes this range is too aggressive, advocating for a "gradual price increase" strategy. A European buyer noted: "If prices rise too quickly, downstream retail and brands won't be able to absorb it, which will directly affect ordering rhythm."
Risk Factors