Published on August 27, 2003

Questions or Comments? Click here ! Tuna market report: Raw materials situation Thailand Transaction activities remain inactive. Packers are looking to buy raw material while fish traders are pending transaction due to lack of supply. Market situation give more power on seller side. Catching situation in Western Pacific Ocean remains poor, with average catches less than 15 tons per day per boat. In addition domestic supply remains disappointment and fishing season is late. Local packers are continuing to reduce their daily production capacity. They have raw material inventories cover until first half of September. However, our source said catching situation in Indian Ocean has slightly increased for skipjack, hoping that the excess supply would be switched to Bangkok landing. The price of yellowfin remains unchanged at $ 1,200-1,250 per metric ton. The price of albacore has also stable at $1,950-1,980 per metric ton. Philippines Local tuna boat owners informed that catching situation continued to be very poor. Last week about two boats arrived at General Santos port with total load of 1,500 tons of fish. All raw materials went to two big packers. The price remains unchanged at $ 780-800 per metric ton, according to our source. At present, most of local packers have raw material inventory up to one week. With the plight on the lack of supply and difficulty on sales of canned tuna products, many local packers are planning to shut down their plants in September in lieu of the tradition December plant shutdown, according to our source. They are hoping that fish supply will improve soon. Domestic fish supply remains poor, with average catches about 100-150 tons per day, while fresh fishing season is very late and may not even come until November. Most of supply goes to wet market. Fish price stood at 38-40 pesos per kilogram. Europe In Spain, the price of skipjack has slightly decreased to $ 850 per metric ton, from last week's $ 850-870 per metric ton due to strength of exchange rate. The price of yellow fin remains unchanged at $ 1,250-1,280 per metric ton. According to recent report, European tuna industry has opposed the Union's decision to lower tariffs on tuna imports from Philippines, Thailand and Indonesia. European tuna industry is appealing the decision as it wants the EU government to maintain the 24 percent tariff rate. Trends and Predictions The price of skipjack will slightly increase from the current level due to lack of supply. The price of yellowfin and albacore will remain unchanged. Questions or Comments? Click here ! Source: FoodMarketExchange.com