High frozen skipjack tuna prices are impacting global market
MEKSEA.COM – During the first five months of 2022, the average price of frozen skipjack tuna has increased by 33 percent YOY.
In the first quarter of 2022, skipjack tuna imports in Thailand, the Philippines, Ecuador, and Spain increased.
The import price of frozen skipjack tuna increased significantly from USD 1,300/ton in October to USD 1,540/ton in November 2021, which shows that Thailand’s tuna imports increased 18% after remaining stable for over 5 years. The increasing trend persisted for the next 6 months, reaching USD 1,950-2,000/ton in April 2022 before falling slightly to USD 1,800/ton in May 2022.
Read more: Vietnam’s tuna exports in April 2022
From January to March 2022, Thailand’s frozen skipjack imports decreased by 20% to 118,250 tons. However, total frozen tuna imports fell 17% to 160,490 tons during this period, offset by a 22% increase in frozen yellowfin imports to 28,330 tons.
Philippines skipjack tuna imports during the period fell 45% to 13,754 tons. While Ecuador’s imports fell 38% to 2,805 tons.
Moreover, in the first quarter of 2022, Spain’s tuna imports also declined, in which yellowfin was down 35% to 56,600 tons, skipjack was 54% to 4,930 tons, and albacore tuna was down 53% to 1,518 tons.
Now, skipjack tuna fishing in the Midwest Pacific region has improved since mid-May. Output in the East Pacific has also been better, which has helped improve delivery prices. However, higher transshipment, transport and fishing costs are predicted to keep tuna prices higher than in 2021.
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By Hayati (Meksea Team)
(hayati@mekseaconnection.com)
(Reference: VASEP)
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