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Tuna (bonito) prices remained firm, global fishing slowed and trade volumes were low

 Last Update: 2023-02-01
 Source: Internet
 Author: User

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In January 2023, the price of tuna (skipto) in Bangkok, Thailand, remained at $1,700/mt, basically unchanged
from December last year.

Multiple sources said fishing fleet costs rose at the end of last year and production was weak and prices were unlikely to fall
anytime soon.

A U.
S.
source told UCN: "Bangkok prices have not fallen into the $1,600/mt range, but are quite strong
at $1,700/mt.
In Europe, the market has been in the doldrums for some time, with trade in yellowfin tuna and skipjack from Spain and Italy being slower
.
The market may not show any positive signs
until we head into February.
”

In February, European processors will reassess demand for duty-free quota fillets in Asia and start forecasting summer yellowfin tuna
.
Recently, the price of skipjack in Spain has remained at €1,700/mt to €1,750/mt, with the market trading mediocre
ahead of the imminent arrival of the TRQ.

"With catches in the Indian Ocean typically slowing down in the first months of the year and a FAD (fish gathering device) moratorium in the Atlantic, bonito prices likely to remain firm unless a sharp drop in prices in Bangkok forces the rest of the world to follow suit
.
" The above source added
.

At the same time, many industry insiders confirm that the current trading volume of tuna raw materials is relatively low
.

"In recent weeks, tuna trading has been slow during the Christmas holidays, the celebration of the Three Kings in Latin American countries and the Eifania celebrations in Italy, partly because Western countries are on holiday, and trade will continue to slow
down in the weeks as the New Year approaches.
"

"Most Spanish and Italian cannery buyers did not return to work until after the January 9 holiday, which could affect prices
.
"

Sources said there were reports that fishing in the western and central Pacific was not very good and had not changed
much in the past few months.
"Overall, Pacific fishing is slowing again and demand remains slow as many factories have just reopened and raw material prices are $1,700/mt
.
"

On the other hand, most Indian Ocean fishing vessels withdrew from fishing at the end of last year, and since mid-November last year, the Indian Ocean fleet has been unable to leave port
due to quotas.
"In January this year, many ships went to sea
again.
Production in the Indian Ocean is not expected to be too rosy in the new year, with the exception of Spanish vessels, which performed better, with average production of smaller vessels
.
The price of skipjack in the Indian Ocean is currently at €1,450/mt
.
”

Fishing in the Atlantic has also been slow, with a 72-day FAD moratorium kicking in this month, and European-flagged vessels looking for other schools of yellowfin tuna
.

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