News

EU: Falling prices for yellowfin tuna continue on the back of good catches in the Indian Ocean

Yellowfin
Seychelles
Published Aug 26, 2023

Tridge summary

Prices for frozen whole yellowfin tuna to Spain and Italy have dropped significantly from July, currently ranging from EUR 2,400-2,450/t. This is attributed to increased catches in the Indian Ocean in May and June, as well as a decline in sales of canned tuna in olive oil due to its high price compared to skipjack. The decline in prices is also influenced by good catches in the western and central Pacific and the August holiday in Europe affecting demand.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

CIF prices for 10-15 kg of frozen whole yellowfin tuna to Spain and Italy are in the range of EUR 2,400-2,450/t, EUR 150-200/t lower than in July, the sources said. In August 2022, the price increased by almost 1,000 EUR/t, reaching a peak of 3,300 EUR/t, the highest level on the Undercurrent price portal. Prices for yellowfin tuna in the Seychelles in the Indian Ocean and in Abidjan (Ivory Coast), a processing center in the Atlantic Ocean, are also declining. The drop in prices is due to increased catches of the species in the Indian Ocean in May and June, three supply-side sources told Undercurrent. There was also a decline in sales of canned tuna in olive oil due to its high price compared to skipjack. “Canned tuna producers are reporting a decline in sales from about 8% to 12% compared to 2022,” one source told Undercurrent. Good catches in the western and central Pacific are also boosting production of yellowfin tuna sirloins, which are then shipped to Spain and ...
Source: Fishretail
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