Ecuadorian skipjack tuna prices have fallen rapidly over the last three weeks, following the rapid dip of their equivalents in Bangkok, Thailand.

Skipjack tuna prices for December deliveries to Bangkok have continued to drop, having started to fall from very high levels in November. 

The majority of skipjack volumes for December delivery from the western tropical Pacific were exchanged for $1,700-1,750/t, according to sources. 

"December pricing in Bangkok is $1,700-1,750/t. At least on January deal has been done at below that, as low as $1,600/t," one US-based source said. "The bulk of December was done at $1,700-1750," he added.

"$1,600/t has been done in Bangkok. They are presently negotiating the price for January deliveries," a second source at a large fishing firm said, pointing out that yellowfin prices in Bangkok were directly interconnected to skipjack movements.

"The yellowfin from Asia is arriving into Europe at €2,250/t now," he added.

Several sources forecast prices in Bangkok for January delivery to drop further.

"January will be $1,500-1,600/t. Catches have improved. More fish are moving to Bangkok as the other oceans -- ETP (eastern tropical Pacific) and IO (Indian Ocean) -- come back on line," a third source from a large fishing company

Manta, Ecuador

The rapid decrease in Thai tuna prices has pressured the traded value of skipjack in Manta, Ecuador's tuna hub. 

Despite the fact that most Ecuadorian fishing firms had to stop fishing for a 72 day veda, or fishery closure, since Nov. 9, skipjack prices in Ecuador have dropped from over $2,000/t to the current level of $1,800/t, sources from multiple Ecuadorian firms.

This represents a rapid decrease since Q3, when prices in Manta reached this year's highest level of $2,350/t.

Dropping prices in Bangkok were the main driver for those in Ecuador, sources said.

Demand is expected to tick up in January, following a cyclical low in December, Ecuadorian sources said. One pointed out that canners in Ecuador were currently buying raw material from the Atlantic, Indian Ocean and Western Pacific, while another source said they had two months' worth of stocks.