Mintec is proposing to launch new monthly Mintec Benchmark Prices (MBP) for Thai skipjack tuna

All Market Notes 31 January 2023

Mintec is proposing to launch two new monthly Mintec Benchmark Prices (MBP) for skipjack tuna caught in the Western Central Pacific Ocean (WCPO) region and landed in Thailand and is collecting feedback from market participants in the seafood markets until Tuesday 14th February 2023.

The proposed specifications for these assessments would be as below:

The proposed assessment would reflect the transactable value on the last business day of each month at 16:00:00 US Eastern time.  

The proposed assessments would reflect the transactable value at 16:00:00 London time.

Skipjack tuna is the most globally consumed tuna species, particularly as a shelf-stable canned product. The WCPO is the world’s largest skipjack tuna fishery, comprising approximately 60% of global biomass. Thailand is responsible for processing and canning the largest share of skipjack landed in the WCPO. Thailand’s importance as a key hub for importing, processing and re-exporting skipjack, supports the demand for such a benchmark. These Mintec Benchmark Prices would provide an independent reference point for the industry. Mintec is launching series for a whole skipjack tuna ≤3Ib (1.4kg) and 4Ib (1.4-1.8 kg) on February 23, 2023. The proposed assessments would complement Mintec’s coverage, as well providing users of this benchmark further granularity.

Please send any questions or comments about this market note to methodology@mintecglobal.com by Tuesday 14th February 2023, and clearly state which market note your comments relate to, and if comments are intended for publication by Mintec.

Mintec is proposing to launch this assessment, if supported by the industry, on Wednesday 1st March 2023.

Mintec will acknowledge receipt of all comments by email.