Alaskan salmon pack details from the Food Processors Association in Seattle confirm that red 213g are 15% down on last season but pinks are up 20%. The FPA said 213g red prices are up 15% and 105g will be 20% higher due to the Canadian pack’s failure.
Tuna prices ease
Tuna raw material prices, which have been rising month by month recently, have eased slightly, according to sources in Bangkok. One Thai processor said: “Fishing remains poor, but when the price reaches more than $1,000 per tonne, packers work on a hand-to-mouth basis and that invariably results in a price adjustment.”
Other cost increases, such as freight and tin plate, will continue the upward pressure on FOB prices.UK traders remain pessimistic about the ability to achieve lower sterling costs until well into next year. Even then, a cut would depend on a much greater fall in the raw material cost than that seen this past week. In spite of this, retailers are intent on maintaining their bogof activity.
They say consumers expect these deals, and the belief the mechanic is effective at increasing tuna consumption is supported by market statistics.
Italy back on form
Lower prices for Italian new pack tomato contracts look set to stimulate demand and bring stability back to an uncertain market.
Just two years ago, UK traders were forced to turn to Argentina, Australia and Canada for supplies when the Italian crop failed.
This year, both the good weather and co-operation between the growers and processors have resulted in above-average quality, plentiful supply and an 8% price reduction year on year.
The shift from whole to chopped continues, but Italian producers have been stressing that premium-quality whole tomatoes are now available. “Much of the move away from whole to chopped was the result of poor quality, forcing customers to reject the whole product,” said an importer.