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Skipjack and yellowfin tuna prices rise q-o-q during Aug-Oct '22, as supply tightens

November 1, 2022

1 mins read

The average price of Thai skipjack tuna landed in the WCPO increased by USD 108/MT (+7.0%) q-o-q through Aug-Oct‘ 22 to USD 1,650/MT. Average prices in the WCPO typically peak in late-Q3, due to the ban on fish aggregating devices (FAD) in the region, which leads to lower catch volumes

Skipjack raw material prices remain well supported in 2022 when compared to the previous calendar year. Despite Energy and fuel wholesale prices softening through Aug-Oct ’22, they remain well above the five-year average (2017-21). Continued supply chain disturbances attributed to the war in Ukraine, and COVID-19 cases in China, are also factors

At USD 2.73/kg, the average price of yellowfin tuna caught in the Indian Ocean rose by USD 0.06/kg (+2.4%) q-o-q for the Aug-Oct ‘22 period. This slight increase largely reflected an uptick in demand, particularly from canners in Europe. Import demand for yellowfin tuna reportedly strengthened in the European market from early-Q3 2022, as availability within the bloc was tight. The Aug-Oct ‘22 price increased by USD 0.4/kg (+17.1%) y-o-y, which reflects an overall increase in fuel, labour and other raw materials costs that have affected global supply chains

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Topics: Fish & Seafood
Ibi Idoniboye
Ibi Idoniboye

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