EU: Yellowfin tuna prices fall amid rising supply and weak demand

“Yellowfin tuna prices range from €2,500 to €2,600 per ton in Spain, €2,500 per ton in Italy, and €2,350 per ton in the Seychelles,” one source at the fishing company told Undercurrent News. A second source in Italy said that prices in the country are around 2,600 euros per ton. “Recently, a deal was concluded at a price of 2,630 euros per ton,” he said. This level represents a sharp drop from prices at the beginning of June, which hovered around 2,800 euros per tonne. However, a third source from a European fishing company noted that the strong decline in yellowfin prices was due to an "overreaction" associated with good catches. “Yellowfin tuna prices have dropped a lot because quite small volumes have been purchased; this [price reduction] does not make up for the first five months of very high prices,” said a third source. He noted that European markets "overreacted" to the June catch of yellowfin tuna in the Indian Ocean, which will arrive in the EU at the beginning of the ...