Thai tuna packers have seen their raw material prices recover very swiftly from their US$380 a tonne low point late last year to nearer the US$750 mark. However, even though fishing is patchy, the underlying demand is unlikely to support that sort of raw material rate in the medium term. These prices are well below what could be considered a sustainable level for the catchers, but there is unlikely to be stronger demand from European buyers before early summer. US buyers are active at the moment, paying relatively high prices but buying short. Dockside prices may see a relapse in the meantime, but not as bad a fall as that before Christmas. But raw material prices have dropped so far that packed product is unlikely to get any cheaper. {{PROVISIONS }}

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