Thai tuna packers face financial crisis as Bangkok has more fish arriving than it can pack or consumers will eat. "There are going to be serious casualties," warned one trader, as raw material prices hovered around the $420-$420/tonne mark. Industry observers put the catchers' breakeven point nearer to $800-$900/tonne. Fewer boats are queueing to unload their catches. "Only the Taiwanese boats are really active," said a trader. "The US boats have tied up until prices improve." Fishing is described as "reasonable" but the market is full. Not only is Bangkok overflowing with unsold frozen tuna, but Europe is also overstocked with raw material. "The market has taken as much as it is ever going to consume," another trader told The Grocer. "The German market will probably take 20% more fish this year, but noone is going to eat skipjack for breakfast, lunch and supper." Her concern was that tuna would become so cheap that consumers will lose interest and switch to other products. {{PROVISIONS }}

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