Tuna Market Update

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Tuna insiders at the Bangkok Tuna Market say tuna prices have stagnated at US$1600-$1650 per metric tonne for a number of reasons.
World Tuna Purse Seine Boat Owners Association President (WTPO) Francisco Tiu Laurel said prices have stagnated a little because no one is really selling or buying. He said most parties were waiting for the Bangkok Tuna conference to end before changing prices.
Parties to Nauru Agreement Commercial Manager Maurice Brownjohn said prices remained firm at about $1650 per metric tonne and were unlikely to change dramatically in the short term: “The United States treaty fleet landings, which are significant in the overall BKK supply, are now hitting the processor's  cold stores.
But landings remain modest, cold store inventories overall  remain low so demand  remains firm despite the canned markets remaining soft on the back of price hikes.  With the annual Fish Aggregating Device closure imminent mid year, it will see the traditional  buildup of  inventories in advance and prices held firm.
The impact of the FAD closure on supply has been varying from year to year.”
He said in the past has been buyers holding off on contracts untill prices decline in the last quarter with increased FAD fish flooding the trade in the fourth quarter of the year.
Send us your tips to marketintel@pnatuna.com

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