The situation on the global tuna market continues to worsen. As current assessments from the trade show, several factors are driving prices upwards - and there is currently no end in sight to this trend.

Fresh impressions from the leading international trade fair Seafood Expo Global in Barcelona confirm the trend: raw material prices have risen significantly in recent weeks. In important transshipment centres such as Bangkok, prices are currently around USD 2,100 per tonne, in Manta (Ecuador) around USD 2,000.
The main drivers are poor catches. It is suspected that this is due to the El Niño phenomenon. The warming of the oceans is causing fish stocks to retreat into deeper water layers - with a noticeable impact on catch volumes. At the same time, high oil prices are making the operation of fishing fleets considerably more expensive, partly as a result of geopolitical tensions. It is questionable whether the entire fleet will be used for fishing again after the end of the FAD ban in the Atlantic Ocean at the end of April. According to industry insiders, the fishing boats are running at a high loss due to the low catch volume and high costs.

Further restrictions are already on the horizon: From July, fishing fleets in Ecuador will only be allowed to catch 50 per cent of their catch in order to conserve stocks. This regulatory measure is likely to further reduce supply and increase the price increase.

Against this backdrop, market participants are currently advising against long-term stockpiling strategies. Instead, companies should align their purchasing activities closely with current demand and keep a close eye on the market. Short-term, demand-orientated procurement is currently considered the most sensible approach.

There is no easing in sight for the time being. Industry experts speak of an exceptionally dynamic development - both in terms of speed and intensity. Even experienced market players currently see no reliable basis for a positive forecast for the rest of the year.