Low demand and rising production put pressure on tuna prices in Ecuador

Tuna catches in the Eastern Pacific have increased significantly in recent months. However, this increase has not brought as much joy to manufacturers as expected due to sluggish demand in the European market. According to the Inter-American Tropical Tuna Commission (IATTC), From January to September this year, bonito catches increased by 14% to 259,722 tons, while yellowfin tuna catches also increased by 10.5% to 238,655 tons. ​ In terms of price, between late September and October, due to the decline in catches in the Eastern Pacific and the decline in tuna prices in Bangkok, Thailand, the price of Ecuadorian manta bonito was also affected, falling to around US$1850/ton. Some observations People predict that as fishing volumes pick up in early November and the Veda ban is about to take effect, prices are likely to fall further to US$1,800/ton before the end of the month. ​ However, the prosperity of the fishery does not depend solely on catch. Ecuador's tuna industry is ...