Tuna Market Report

Satisfactory Essays
Tuna Market Report

Overview: The market is currently trading in the Far East. Down considerably from the highs we saw over the summer period (where prices reached USD$…). However, at current levels is still regarded as very high… Traditionally raw material prices fall from about this point (end Oct) through to Dec. When they do and we get a “buying window” which is usually when raw material prices fall to around for a brief period of time, prices then sharply rise, so it is important you are ready to buy and “press your buying button” when this happens. Of course there are no guarantees this will happen as anything is possible… fishing catches maybe poor over the coming months with demand increasing so prices could rise…

What is happening right now is that large volume buyers are holding off for raw material prices to fall. Here in the UK most volume users have cover to end Jan or slightly beyond. This means that most volume buyers cannot hold off for too long as need further requirements to ensure stock arrives in time for start 2011. There are also a number of users who have stock only to end Dec which means to ensure consistency of supply they need to buy now and gain commitments for prompt shipment. If you are in this position then maybe you look at only covering 1-2months stock which then allows you to buy again when prices maybe more favourable (possibly next month or Dec).

Reports are that fishing is modest and large vessels that were not fishing during the FAD ban (July – Sep) are out fishing right now (after departing start Oct to fish for 3-4wks). These large vessels will start landing raw material caught this week and next which should increase supply and hopefully pull back raw material prices. Fishermen will of course do there best to keep prices at current levels or higher which maybe possible given a number of large tuna users need to buy now as only have cover to end Dec. Watch this space…

Packers are keen for

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