Tuna prices seem to be firming up worldwide this year, with more significant increases in Asia and Europe.
In Asia Skipjack 1.8kg up is now being traded at 1100 U.S. dollars in General Santos, Philippines, a 15% increase from last month. In Bangkok already skipjack deals for Feb delivery have been concluded as high as 1150 dollars per ton.
Yellowfin prices 10kg up are also keeping up its growing trend being now at 1820 dollars CFR General Santos.
After the end of the second IATTC tuna ban in the Eastern Pacific Ocean, prices in Manta, Ecuador, are slightly higher. Skipjack price is now at 950 dollars per ton, while yellowfin is being traded at 1500 dollars per ton.
Spanish tuna ports are reporting a quick rise on prices this year. Skipjack price volatility has increased its value in up 100 Euros, reaching 900 Euros per ton this week. Yellowfin prices are as well increased, 1450 Euros per ton.
General tuna trading has been somewhat slower during the first weeks of the year, since there’s still a lot of uncertainty regarding the new IUU regulation imposed by the European Union to fish products entering its markets after January 1st.
Countries, such as Panama and Belize, but also India have been holding their tuna cargoes afraid of facing documentation problems when delivered to the EU.
Even the Spanish authorities were reported to be overwhelmed by the amount of applications for the issuance of catch certificates covering tuna catches by Spanish flag purse seiners.
The European Union is taking this measure to make sure that no IUU fish enters the community, but first it has to endorse public organs in several countries as reliable to check and certify its own fleet.
For some developing countries this has been a challenge, that obviously still has not been overcome everywhere.
This could continue to have its effect on the global tuna supply and on price levels in the coming weeks.
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