Tuna raw material prices remain very low, still running between $410-440/tonne, with little prospect of changing in the short term. UK supermarkets are still selling from the large stocks of tuna they bought the last time the tuna price crashed in December. But from the low $400s, the price recovered to around $650 by March. But following the low prices in December, both John West and Princes have run heavy promotions to keep the market moving. This had the effect of cannibalising own label market share, slowing down the rate at which the own label stocks run down. {{PROVISIONS }}

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