World: Demand remains sluggish and bonito tuna continues to decline in January

Frozen Bonito
Published Jan 11, 2024

Tridge summary

Global market demand for canned tuna products is low, leading to further falling raw material prices in Thailand and Ecuador. The Pacific raw material supply is expected to remain stable, and processing plants are operating efficiently. Prices in the European and Atlantic markets have also declined, with the East Pacific prices falling due to increased production.
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Original content

Global market demand for canned tuna products remains very sluggish, causing raw material prices in Thailand and Ecuador to fall further. ​ UCN sources said that the transaction price of bonito in Bangkok fell to $1,450/ton in January, and the downward trend has continued for several months; at the same time, in Manta, Ecuador, the price of bonito raw materials also fell back to $1,500-1,550/ton. Industry forecasts , in the foreseeable future, the Pacific raw material supply will remain stable, and at this time of year, global market demand is relatively stable, and Thai and European canning processing plants are operating efficiently. ​ In addition, the European tuna market price has also declined. The FOB price in the Indian Ocean fell by €50/ton compared to last month to €1,450/ton. Many Indian Ocean vessels reported relatively average catches. The northern part of the Seychelles is still the main fishing area. Some Seychelles ships entered the Mozambique Strait in a ...
Source: Foodmate
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