Thai skipjack tuna price rises in ahead of FAD ban

The Mintec Benchmark Prices (MBP) price of canning-grade Thai skipjack tuna increased by $150/MT (+7.4%) m-o-m in June 2023 to $2,175/MT. The uptick reflects the typical seasonal pattern caused by a restricted supply of tuna raw material in the Western Central Pacific Ocean (WCPO) tuna because of a three-month ban on fish Aggregating Devices (FADS) in the region. The lack of fish aggregation substantially reduces catch rates in the WCPO between Jun-Sep each year. The tuna MBP also Increased by $535/MT (+32.6%) y-o-y, reflecting weak tuna pricing in 2022 caused by substantial availability.