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Natalia Freitas, reporting for Atuna.com
The mood in the global Tuna market place is dominated by news of poor catches given by fishermen from all major tuna fishing areas.
Large buyers are refraining mostly to hand-to-mouth purchasing at the moment. A status quo bringing big players a challenge in securing stock levels of raw material and constant production volume.
Also there are reports from General Santos that the pipeline of skipjack supply is getting empty, with skipjack 1.8 kilos up are now being sold at 1180 U.S. dollars per metric ton CFR. At least 80 dollars increase from the past two weeks.
But the real effect of the growing raw material shortage in Asia are best seen in Bangkok, where trading moved from 1100 dollars in March, to today’s levels of 1230 to 1250 dollars per ton.
With inventory levels of low priced skipjack being at the very end , Thai canneries have started to calculate skipjack prices for the upcoming months delivery already at that level 1200 dollars, with the expectation that replacement cost levels will continue to move up.
Slow demand from EU canners for pre-cooked loins has temporarily softened demand for skipjack from the Eastern Pacific Ocean. So although catches are said to be poor, prices have kept almost the same level as last month, 1200 dollars per ton CFR Manta, Ecuador.
For skipjack everybody is looking with curiosity at the Indian Ocean, wondering if supply from the Maldivian and European fleet could again cause a price turn in Bangkok. Often in the past Bangkok traders and processors have used supply by carriers from the Maldives to interrupt a rapidly rising prices from the Pacific. It is unclear yet – if they succeed in that this year, especially considering the continuous threat of piracy in this area.
In the Western central Pacific region yellowfin catches are rising along with skipjack. Yellowfin 10kg up prices in General Santos are being now sold at 1950 dollars per ton. A 100 dollars increase over the last few weeks.
Tuna fishermen in the EPO are reporting good yellowfin volumes that seem to be offsetting the skipjack decline in the area.
This has caused South American quotes to temporarily slide from 1900 dollars per ton - yellowfin prices in Manta are now about 1650 dollars per ton CFR Manta.
In Spanish ports Yellowfin prices seem to be also firm. Last reported sale was at 1600 EUROS per ton CFR Vigo. Little movement from past weeks levels.
Skipjack CFR Vigo is now being landed at 800 Euros, which is equivalent to 1090 dollars, considering Usd exchange rates of today.
Canned tuna demand in several European countries has decreased in 2009, according to the latest data released by the Union.
United Kingdom had its imports down in 20%, Germany in 17% and Spain in 22%, but latest numbers show indications of a rapid recovery and normalization of demand to pre-crisis levels.
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