Bangkok skipjack tuna prices currently stand at USD 1,930 per ton, compared to last week’s higher recorded price of USD 1,950.
Prices for skipjack tuna have dropped in recent months from a high peak of USD 2,350 in the first half of the year, with Thai buyers managing to push prices down to USD 1,930 this month.
But general mood in the market is still that tuna prices are expected to rise, particularly due to the introduction of the WCP FAD ban that came into force at the beginning of this month. This is projected to reduce fishing efforts and drop tonnages being landed in ports, which is eventually could drive prices up.
It is thought that the recently falling prices for skipjack tuna were triggered by high inventories in Bangkok. According to Thai processors, buyers have been resisting high tuna prices, such as figures last month reaching around USD 2,300 per ton.
Thai Union, the largest buyer of tuna in the Thai market has shown somewhat disappointing financial performance in the first half of 2013 due to lower demand for tuna causing them decreased turnover, and margins. Holding significant buying power in the market, it is believed that Thai Union has the power to push down the price of raw material and boost sales at lower levels, with an expected turnaround in this year’s third quarter.
Despite recent reports by some media announcing fallen skipjack tuna prices to as low as USD 1,850 per ton in Thailand, information received from Bangkok suggests otherwise, with a not so significant softening of the skipjack market.
A source from Bangkok said prices from the Western central Pacific as of late have not been seen to drop below USD 1,900 per ton, and explained that reports of such a price drop commonly only refer to small volume spot offers from Indonesia or Japan by container basis. Carrier quantities of skipjack maintained levels over USD 1925 CFR Bangkok.