22
2025
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03
Tuna supply and demand imbalance continues to drive up prices in Bangkok!
Global Tuna Market Imbalance: Prices Soar in Bangkok, Ecuador Supply Remains Stable!
With ongoing supply tightness, skipjack tuna prices in Bangkok, Thailand, continued to rise in March 2025. Although catches in the West and Central Pacific have improved, they are still insufficient to ease market tension, pushing prices further upward. According to market sources, the CFR (Cost and Freight) price of skipjack tuna in Bangkok has risen to US$1,700-1,725 per metric ton.
In addition, tuna with Marine Stewardship Council (MSC) certification commands an additional premium of US$25 per metric ton in the market. In the General Santos market in the Philippines, the price of skipjack tuna without GSP (Generalized System of Preferences) benefits also reached US$1,700 per metric ton, while the price under GSP benefits is expected to rise to US$1,800 per metric ton in the short term.
In contrast, despite rising prices globally, tuna supply in Ecuador remains stable. Strong catches in the Eastern Pacific have resulted in ample inventory in Ecuadorian cold storage facilities, keeping the ex-factory Price of skipjack tuna at around US$1,650 per metric ton. Furthermore, yellowfin tuna catches in the Eastern Pacific increased year-on-year, accounting for approximately 45% of total catches. However, skipjack tuna catches decreased compared to the same period last year. According to data from the Inter-American Tropical Tuna Commission (IATTC), the Eastern Pacific skipjack tuna catch reached 968,923 tons in 2023, while Ecuador's 2024 catch increased by 43.5% year-on-year to 422,006 tons.
In the Indian Ocean,Mozambique ChannelFishing activities were previously affected by bad weather, but recent catches have improved. Nevertheless, skipjack tuna supply to local canneries remains tight, keeping prices at US$1,620 to US$1,642 per ton (FOB), with Spanish fishing companies even pushing prices for upcoming transactions to €1,550 per ton. Meanwhile, the Price of large yellowfin tuna remains stable at €2,150 to €2,200 per ton.
The fishing situation in the Atlantic remains poor. Although catches have improved after some fishing vessels moved north, the 45-day fishing ban implemented by the International Commission for the Conservation of Atlantic Tunas (ICCAT) from March 17 to April 30 has officially come into effect. During this period, fishing vessels subject to this regulation will not supply skipjack tuna to the market, further exacerbating the tight market supply.
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