Globefish’s report on tuna – the trend of price and catching

News 11:04 09/07/2013 502
As of the end of May, the EU 2013 zero duty quota of 22 000 tonnes has been completely filled.

Average fishing trends prevail for most fleets operating in the Western and Central Pacific. Most processors in South East Asia continue to hold large inventories of raw material because of a scarcity of orders with buyers apparently waiting for a decline in prices. Thus, skipjack prices have softened to USD 2 150/tonne CNF Bangkok for June deliveries. Several fleets are planning to perform maintenance and repair work on their vessels during the upcoming 4 month long FAD closure period, which will last from 1 July to 31 October.

The Eastern Pacific fleets have been fishing regularly and supply has been steady with better fishing results compared with last year. However Ecuadorian waters have now cooled and a lack of raw material is expected in a couple of weeks. Processors in Ecuador have enjoyed strong demand. This is related to the fact that the price of raw material in Ecuador has been lower thanin Bangkok for the past few months giving a clear cost advantage to the Latin American producers, especially for the EU market where Ecuador and certain other Latin countries have duty free access compared with 24% duty on imports of tuna products from Thailand. With increased demand for fish, the price of skipjack has been firm at USD 2 150/tonne to USD 2 200/tonne ex vessel Manta.

Bad weather and strong currents have affected fishing efforts in the Indian Ocean. A number of vessels suffered some damage to nets and other equipment further limiting their capabilities.

Therefore, prices have increased, even if only slightly, to EUR 1 670/tonne FOB Seychelles for skipjack and EUR 2 400/tonne FOB Seychelles for yellowfin 10kg and up.

Moderate fishing continues in the Atlantic Ocean, especially along the north west African coast. Several vessels have moved down to the middle of the African coast and to the Gulf of Guinea in the hope of better results. Prices have risen slightly to EUR 1 660/tonne ex vessel Abidjan for skipjack and EUR 2 425/tonne for yellowfin.

In Europe, yellowfin continues to trade at EUR 2 600/tonne CFR Italy and Spain. Skipjack prices in Spain remain similarly unchanged at EUR 1 800/tonne ex cold store.

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