Global: Yellowfin tuna prices continue to rise due to fishing conditions in the Indian Ocean

According to multiple European buyers, Spanish yellowfin prices have surged to a minimum of €2,700 per tonne, and as high as €2,725-2,750, up from €2,650 last month. Meanwhile, Italian deals have also reached €2,800-2,850, but there are also lower offers. One source said the lowest offer is currently €2,700, adding that "Italian prices will follow the Spanish trend." Another buyer said he expects fewer yellowfin deliveries from Italy due to improved fishing conditions in the Indian Ocean since mid-June. "It seems that canneries in the Indian Ocean are starting to buy less yellowfin, so fishing companies can ship the product to Spain, Italy and Vietnam," he said. "Vietnam is the country that pays the lowest price because all the yellowfin caught in the Western Pacific goes there, as freight rates to Europe have risen to unaffordable levels," another source noted. Sources agree that most of the fishing boats in the Indian Ocean are currently catching large yellowfin. Large yellowfin ...