The Skipjack tuna raw material pricing in Bangkok had gone down for the first time this year from $1500/ton to $1400/ton, but has now rebounded to $1450/ton, the lowering in price not enough to make any significant impact on the market. The FAD* ban now goes into effect through October, which should result in tight raw material supply and prices going up.

Historically, tuna prices go up between July and October because of the ban, peaking in August and September (see 2015 graph above).

In Manta, Ecuador, the second largest tuna hub after Bangkok, ship owners comment that there are “Few fish and nearly zero sales.” Raw material is trading between $1550 and $1650/ton, and their FAD ban goes into effect at the end of this month as well –when around half of their fleet is expected to tie up–, so pricing there is also expected to come up until the end of the year, when lowered prices would be for 2017 delivery.

Ecuadorian packers are mostly serving old contracts, and those that were not able to re-negotiate the prices with their clients are losing a lot of money.

The possibility of Thailand selling duty-free tuna to the UK after Brexit would be a severe blow to the Ecuadorian tuna industry.


*FAD: A fish aggregating (or aggregation) device (FAD) is a man-made object used to attract ocean going pelagic fish such as marlin, tuna and mahi-mahi (dolphin fish). They usually consist of buoys or floats tethered to the ocean floor with concrete blocks. Over 300 species of fish gather around FADs. FAD’s attract fish for numerous reasons that vary by species. Fish tend to move around FADs in varying orbits, rather than remaining stationary below the buoys. Both recreational and commercial fisheries use FADs

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