Lower costs ruled out Following a meeting of the world tuna purse seiners organisation (WTPSO), raw material prices have risen about 10%, ending speculation that we may see lower costs from packers. Over the last few weeks, prices had eased slightly as fishing in the Indian Ocean and Eastern Pacific areas improved. The WTPSO was formed by Korean, Taiwanese, Philippine and Japanese fleet owners to control quotas in the hope of avoiding a price collapse similar to last year, when they fell below $400/metric tonne. A cutback of 35% was amended last week which seems to have had the desired effect, as reflected in the 10% increase to about $720/tonne. These developments are not expected to trigger higher prices to the trade but they certainly rule out any reductions. Ongoing promotional activity centring on multipacks is expected as Princes and John West finalise contracts well into the New Year. Own label tuna is gaining in prominence as retailers try their hand at bogofs and multibuys. Introduction of own label multipacks shows that retailers are following the example of brands. "We have doubled our offtake by emulating the promotional activity introduced by John West and Princes, a buyer told The Grocer. {{CANNED GOODS }}

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