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Easing lockdowns provides timely boost to Spanish albacore tuna prices

June 7, 2021

1 mins read

A boost in foodservice demand helped lift the Mintec wholesale price of fresh Spanish albacore tuna to a 14-month high of EUR 7.50/kg during the week of 2nd June 2021, while the May 2021 average price of EUR 6.80/kg rose by EUR 1.38/kg (+25%) year-on-year (y-o-y). Albacore tuna is considered a Spanish delicacy, typically served as a starter, in tapas or in accompanying salads. The Spanish albacore wholesale price hit a 32-month low of EUR 4.08/kg in June 2020 and October 2020 respectively, as Spain implemented stringent lockdown restrictions to combat one of Europe’s highest COVID-19 infection rates. This subsequently weighed on out-of-home consumption, partially offset with higher in-home consumption.

The majority of Spain’s 17 regions lifted restrictions by mid-May 2021. Local restaurants and bars were permitted to trade until 11 p.m., although restricted to four diners per table, with indoor dining reduced to 30% of full capacity. This extra demand was reflected in the albacore wholesale price increasing by EUR 1.0kg (+15.4%) during the three weeks ending 2nd June 2021. Spain re-opened its borders to vaccinated tourists from 7th June 2021, which should provide further demand-led price increases over the summer months.

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Topics: Fish & Seafood

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