Tuna market ups and downs, Thailand leads the world!
Tuna delivered in Bangkok, Thailand, in October cost $1400 a tonne, according to the latest figures. Market sources predict the price could rise further into November to $1500 a tonne. This prediction is not groundless, because at this time of year, the market demand for tuna has not eased significantly, but continued to be strong due to festivals and consumption habits. As a result, suppliers have incentives and the ability to push prices higher in order to achieve higher profits.
In the Western Pacific, tuna fishing has been relatively stable. Fishing vessels in Papua New Guinea and the Federated States of Micronesia produce about 200 tons per week, while American vessels produce 40-60 tons per day. These stable catches have to some extent ensured market supply and avoided price spikes caused by supply shortages.
It is worth noting, however, that tuna fishing and availability are changing in some areas. In Ecuador's Manta region, for example, tuna prices have risen slightly since a while ago, although they are currently stable at $1,500-$1,550 per ton. According to local entrepreneurs, this is mainly due to good fishing conditions for skipjack and a decline in yellowfin tuna production. This change in supply structure may put some pressure on market supply in the last quarter.
In the European market, tuna prices and supply remained relatively stable. Spanish skipjack prices have stabilized between 1,500 and 1,600 euros per ton, while canned yellowfin tuna prices have stabilized between 2,550 and 2,600 euros per ton. A similar picture was observed for tuna markets in the Indian Ocean and Atlantic Ocean, which remained relatively stable overall despite regional variations in catch and prices.
To sum up, tuna (skipjack tuna) market presents certain regional differences and price fluctuations. The upward trend in prices was particularly evident in Bangkok, Thailand, while supply was relatively stable in the rest of the world.
