“Bangkok tuna market insiders say Skipjack tuna prices have inched its way up to USD1,650 per metric ton this month,” the Tuna Market Intelligence said in its May report. Unstable tuna prices affect canned tuna industryMANILA — Severe fluctuations of the prices of raw materials are making it even tougher this year for tuna canners in the Philippines, which may drag bottom line figures downward. In the Philippines, there are seven tuna canning companies — six are located in General Santos City and one in Zamboanga City, namely: General Tuna Corporation, Philbest Canning Corporation, Ocean Canning Corporation, Celebes Canning Corporation, Seatrade Canning Corporation, Alliance Select Foods International Inc., and Permex Producer & Exporter Corporation. The seasonal fishing ban from July to September was put in place to ensure sustainability of pelagic ocean fish such as Skipjack and Yellowfin Tuna. With the continued lowering market price of tuna globally, the competitive landscape continues to create even more pressure on market players in the fish industry.

Source: Manila Bulletin August 09, 2016 09:22 UTC