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Fish & Seafood
Tuna & Prawns
26
The price of Thai skipjack tuna for canning increased by USD 175/MT (+12.3%) m-o-m in July 2022, to USD
1,600/MT. July marks the first month of the three-month ban on the use of fish aggregating devices (FAD) in the
Western Central Pacific Ocean (WCPO) region, which is the largest source of global skipjack. As such, prices
typically rise during Q3 of the calendar year. Additionally, fuel and wage inflation, contributed to lifting the July 2022
price higher by USD 150/MT (+10.3%) y-o-y.
At NOK 4,631/MT, the average Norwegian prawn price plummeted by NOK 17,412/MT (-79.0%) m-o-m, and by
NOK 15,679/MT (-77.2%) y-o-y in July 2022. Furthermore, the August 2022 average price is the lowest monthly
since Mintec started tracking this series in January 2007. This reflected plentiful global prawn supply, particularly in
Ecuador, India and Vietnam, and sizeable inventories in Europe. Despite high prices for oil, gas and other inputs, in
addition to the cost-of-living crisis, this market oversupply prevented exporters from passing on these costs to
buyers.
At INR 332.0/kg, the average price of Indian prawns (60-count) rose by INR 32.0/kg (+10.7%) m-o-m in August
2022, representing a five-month high. The increase is attributed to supply concerns in the key producing state of
Andhra Pradesh, caused by monsoon floods. Chinese demand for smaller sized prawns is expected to increase in
the months ahead, which should provide further price support during remainder of Q3 2022. The August 2022 price
substantially surpassed the same period of the previous year, by INR 44.5kg (+15.5%), due to high input and
logistics costs.
*July 2022 is the latest available monthly data
Norwegian Prawns* - NOK/MT
Jul 20 Oct 20 Jan 21 Apr 21 Jul 21 Oct 21 Jan 22 Apr 22 Jul 22
0
15,000
30,000
45,000
60,000
75,000
90,000
TS40 - Prawn coldw NO
Thai Skipjack Tuna* - USD/MT
Jul 20 Oct 20 Jan 21 Apr 21 Jul 21 Oct 21 Jan 22 Apr 22 Jul 22
1,100
1,250
1,400
1,550
1,700
1,850
2,000
8P01 - Tuna skpj fzn >1.8kg cfr TH
Indian Prawns- INR/kg
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
220
250
280
310
340
370
400
TN60 - Prawn, whiteleg, 60 exf, Andhra Pradesh, IN