Copyright © 2021 Mintec Limited Contents
Fish & Seafood
Tuna & Prawns
23
Indian Ocean Yellowfin Tuna - USD/kg
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
1.95
2.05
2.15
2.25
2.35
2.45
2.55
2.65
8W12 - Tuna yfin wh (InO) SC
The Mintec price of Indian Ocean yellowfin tuna averaged USD 2.26/kg in May 2021, representing modest
respective contractions of USD 0.1/kg (-2.6%) m-o-m and USD 0.02/kg (-0.9%) y-o-y. These small price
contractions are attributed to tepid foodservice demand for restaurant-grade tuna, particularly from Japan, where
COVID-19 cases have been rising since mid-Q1 2021. The Japanese Prime Minister extended a state of
emergency across Tokyo, Osaka, Hyogo and Kyoto until the end of May 2021.
The price of Thai skipjack tuna for canning averaged USD 1,280/MT in May 2021, representing a USD 60/MT (-4
.5%) m-o-m decline, but an increase of USD 80/MT (+6.7%) y-o-y. Firm prices through Q1 2021 have dipped
under strong resistance from Thai canners, who refuse to meet the price expectations of the large trading houses.
Higher input costs of tin and oilseeds have pressured canners into trying to source fish at lower prices, to help
protect margins.
The average Norwegian prawn price fell substantially by NOK 42,557/MT (-55.1%) m-o-m in April 2021 to NOK
34,713/MT, which was the lowest monthly average since September 2020. This reflects seasonality, as demand in
the key European markets tends to weaken through Q2, exacerbated by weak out-of-home consumption. However,
the April 2021 average price increased by NOK 7,401/kg (+27.1%) y-o-y, owing to comparatively tighter supply
and firm Chinese export demand.
At INR 270/kg, the average price of Indian prawns (60-count) fell by INR 21.3/kg (-7.3%) m-o-m in May 2021,
while contracting by INR 25.0/kg (-8.5%) y-o-y. Most of India's largest export markets are well-stocked with frozen
inventories, weighing on demand, while Chinese imports remain seasonally weak, due to heightened concerns
about the potential risk of importing the COVID-19 Delta variant via seafood shipments.
Thai Skipjack Tuna - USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
850
950
1,050
1,150
1,250
1,350
1,450
1,550
1,650
8P01 - Tuna skpj fzn >1.8kg cfr TH
Indian Prawns - INR/kg
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
220
240
260
280
300
320
340
TN60 - Prawn, whiteleg, 60 exf, Andhra Pradesh, IN
Norwegian Prawns* - NOK/MT
Jan 19 Apr 19 Jul 19 Oct 19 Jan 20 Apr 20 Jul 20 Oct 20 Jan 21 Apr 21
5,000
15,000
25,000
35,000
45,000
55,000
65,000
75,000
TS40 - Prawn coldw NO
*April 2021 is the latest available monthly data