Prices for yellowfin and skipjack tuna for January have continued to rise, against historical market trend in this period of the year.

Prices for both species are expected to rise substantially further if catches remain low.

Yellowfin tuna prices for January have been offered at up to €2,350 per metric ton and the higher sale recorded was at €2,280/t, one source told Undercurrent.

Meanwhile, skipjack prices in Bangkok have reached $1,650/t on Thursday, the source said. He pointed out to poor catches in the Western Pacific and Indian Ocean.

A second source confirmed the $1,650/t price level.

“Prices are on the rise, against all expectations. We haven’t seen this trend happening for 15 years,” the second source said.

“I am more surprised with skipjack prices. The increase in yellowfin prices has been lower in comparison. But the trend is upwards,” he source added.

 At present demand is low, particularly in Spain, but that prices will increase further in January, when buyers will re-start their orders.

"Demand at this period of the year is low. But, I think it will increase. Maybe not in the coming week, but the following one when people will start becoming anxious about their supply in February. It takes one month to transport a container to Spain or Italy so people will need to have a view of what their supply needs are," one source said.

“If the catches remain what they are, yellowfin prices will reach quickly €2,500/t," he added.

Regarding skipjack, the Western Pacific is not currently able to meet demand and there is a big shortage in the Indian Ocean, so for Bangkok the supply alternatives are not many, sources said. "Skipjack prices could rise fast to $1,700-1,800/t,” one of the sources said.

“Normally we get very bad catches in November, perhaps this year the bad catches period has moved to following months,” the third source added. “It isn’t the worst season we have seen in the Indian Ocean, but catches are pretty low,” the second source said.

In November, skipjack prices in Bangkok for December rose to $1,500/t, up from $1,350-$1,400/t in November and $1,100-1,200/t earlier in the year, although still lower than the $1,600/t reached in April. Yellowfin tuna in November for December was sold for €2,100-2,200/t.