In recent weeks, the price of Indian Ocean tuna purchased by a cannery in Bangkok reached $1,670-$1,680 per ton (CFR), while now buyers are trying to drive down the prices in the West-Central Pacific production area, with some transactions at $1,600 per ton. Some canneries have reduced prices to $1,550 per ton, but currently, there are no transactions.
"It is expected that the price in Thailand may soon drop below $1,600 per ton. Market participants are still discussing whether the benchmark price can really drop quickly in the short term. It is probably just a matter of time," said a source.
The decline in raw materials for tuna in Thailand is related to the increase in Indian Ocean catch volumes. Indian Ocean vessels usually complete their quotas by late October, but the catch volume in the first half of this year was relatively low, and the quota usage rate has slowed down. Production has recovered in recent weeks, and most fishing vessels are approaching their maximum capacity.
In Ecuador, in the eastern Pacific, the tuna catch situation has also improved. The catch window period is from October 9 to November 8, and the next fishing break starts on November 9. Bulk traders are quoting $1,800-$1,850 per ton.
The price of yellowfin tuna from Ecuador is rising, with wholesale prices for MSC-certified shipments to the EU market at $1,950-$1,980 per ton, and prices are expected to continue rising in mid-November. The price of yellowfin tuna in the Seychelles region has reached up to €1,750 per ton; the price of yellowfin tuna in Spain is at €2,000 per ton.