Yellowfin tuna prices have fallen further as a result of a prolonged period of low demand

Prices for yellowfin tuna for December delivery continue to fall in several regions, driven by weak demand in Europe. Weak demand in Europe has led to low prices, as has skipjack tuna. The European canned tuna industry is going through a difficult period characterized by a challenging marketing season.

Europe's yellowfin tuna supply comes from several different fishing regions. According to sources, recent deliveries of Atlantic yellowfin tuna in Spain sold for 2,550 euros per ton ($2,758 per ton). The source added that several tons of yellowfin tuna were sold in the Atlantic at €2,150/ton and that a three-month ban on fish aggregating devices (FADs) would begin in January. 

In addition, according to sources, some yellowfin tuna from the Western and Central Pacific have been shipped to Italy and Spain, selling at €2,200-2,250/tonne for fish of 10-20 kilograms and €2,450/tonne for fish of 20 kilograms or more.

Meanwhile, yellowfin tuna catches in the Indian Ocean haven't improved significantly yet, with several FAD-equipped vessels currently fishing north and west of the Seychelles. 

Compared to the same period last year, the number of vessels needing to cease operations after exhausting their yellowfin tuna quota has decreased due to lower catches in the area, the source said. By comparison, a large portion of the Spanish fleet ceased operations at this time last year. A small amount of large yellowfin tuna from the region was delivered in December and sold for about 2,000 euros per ton.

In the Eastern Pacific, fishing remains good with less than 30% of the fleet operating despite the ongoing closure of Vedda. The current price for yellowfin tuna in this area is about $2,200 per ton.