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Tuna markets return to bearishness as prices again drop to historic low

Canned tuna on a plate
Source: Undercurrent News

London, ENGLAND — Skipjack tuna prices for October deliveries in Bangkok, Thailand, are continuing a bearish trend and are expected to further fall in November, multiple tuna industry sources told Undercurrent News.

Prices for skipjack tuna raw material fell in September following a partial recovery in recent months after reaching a record low level in June/July, sources previously told Undercurrent.

Skipjack prices delivered to the processing hub of Bangkok, Thailand dropped to around $1,100 per metric ton in September.

Last week, the first week of October, skipjack prices fell further, reaching the June/July record low, $1,000/t, several sources confirmed to Undercurrent. But in the last three days, some volumes were exchanged at $950/t in Bangkok, a level that cannot be considered "market price" yet, according to sources.

Prices in November could come down to $900/t, some sources speculated.

Read more at Undercurrent News