Some deals below £17 Prices starting to bottom out Tuna raw material prices have reached their lowest levels for months, according to UK traders, who have been following the market downwards to cover forward sales contracts. Some deals were concluded below £17 delivered per case for tertiary 1.9kg chunks in oil. However, with a stronger dollar, prices have already edged up to just below £18 per case. Fishermen in Ecuador are reported to be on strike due to the low returns being offered by processors, but as there are estimated to be two monthsÕ coldstore stocks, the strike will not have an immediate impact on production. Spanish packers, who have been increasing their share of the UK market by undercutting Far East processors, are being more cautious in their forward dealings. An importer said: ÒUp to a couple of weeks ago it was possible to get cover to the end of the year at current prices. ÒNow they will only offer for prompt shipment, which is a sure sign canners expect the market to move upwards.Ó {{PROVISIONS }}

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