Tuna prices rise as production falls and demand remains strong globally

Published 2024년 10월 10일

Tridge summary

The article provides an overview of the current situation and pricing of tuna in the Western Pacific, with a focus on Thailand, the Philippines, Ecuador, and Spain. It highlights that the fishing situation is leading to low catches and resulting in a surge in tuna prices, reaching $1,400-1,500 per ton in Ecuador and $1,650 per ton for 10-20kg whole fish from a Chinese company. The prices remain uncertain, with factors such as the order situation during the SIAL exhibition and the supply of raw materials impacting the market. Additionally, the article touches on the effects of an energy crisis in Ecuador on canny operations and notes stable prices in Spain.

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

Original content

A Thai source said that the fishing situation in the Western Pacific was poor, and some ships only caught 20-25 tons a day. Shipowners quoted prices at $1,400-1,450/t, and canneries tried to keep prices down to $1,350-1,400/t. Whether the rising trend of raw materials will continue remains to be seen, depending on the order situation during the SIAL exhibition held in Paris, France from October 19 to 23; historically, prices usually fall in October and November. Thai canneries generally sign contracts for the first quarter of next year before Easter. If demand is good, raw material prices will continue to remain stable. Another US source said that a large Thai cannery purchased at $1,400/t, and the price of small and medium-sized factories was slightly higher. The main reason for the price increase was the reduction in raw material supply; in the Philippines, the price of skipjack tuna was $1,400/t, close to the price in Thailand. In addition, in Manta, Ecuador, the price of ...

Source: Foodmate