Supplies of Vietnamese tuna to Russia continue to grow significantly

Published 2023년 6월 22일

Tridge summary

Tuna processors and exporters are facing challenges such as market uncertainty and increasing raw material and production costs, leading to a decrease in catch and a surge in prices. The price of frozen whole skipjack tuna in Bangkok has reached its highest in the last 5 years, up nearly 21% in just three months. The economic situation in the US is leading to a decrease in tuna exports to that market. Exports to the EU have also seen a decline, while exports to new markets like Israel, Thailand, and Russia have grown. The difficult export market has affected businesses' ability to secure orders and purchase raw materials, leading to increased inventories and a need for government support.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Tuna processors and exporters face many challenges due to market uncertainty, rising raw material prices and production costs. Prices for skipjack tuna peaked Continuously since the beginning of the year, tuna catches have remained low, which has led to a reduction in the supply of raw materials. This pushed prices for skipjack tuna (skipjack) to the maximum values. The price of a frozen whole skipjack larger than 1.8 kg in Bangkok, after a slight decline from $1,750 per ton to $1,700 per ton, stabilized in February. However, the decline in catch has led to a decrease in the amount of tuna arriving in Bangkok's ports, leading to a significant increase in prices. The price of frozen whole tuna over 1.8kg in Bangkok rose to $2,050 per ton in May, up nearly 21% in just 3 months and up 8% over the same period. This is the highest price in the last 5 years. Low demand in key markets Exports of tuna to traditional markets declined in April. But some new markets are still strong growth, ...

Source: Fishretail