According to the report the imports of canned tuna into the EU market has increased by 1 percent to 396 400 MT last year from 391 400 tonnes in 2007. It is reported that Ecuador was the leading canned tuna supplier to the EU with its exports significantly higher by 37 percent to 88 600 tonnes in 2008. On the other hands the exports from Thailand, the second largest supplier, plunged 7 percent to 52 300 tonnes. While Philippines managed to increase its exports to the EU by 5 percent to 52 100 tonnes during the period under review.
The reason behind this slight rise in imports was higher purchases in the second quarter when prices came down. In fact, high canned tuna prices in the first half of 2008 led to reduced canned tuna imports into the main European markets during this period. Buying interest recovered as prices declined sharply in the last quarter of the year. Imports in EU went up by 10 percent to reach a new record of 144 000 tonnes in 2008. The UK thus accounts for about 36 percent of the whole EU canned tuna import market.
The French canned tuna market remains dominated by four countries: Côte d’Ivoire, Spain, Seychelles and Madagascar. Thunnus Overseas Group (TOG) is the leader in the French canned tuna market with 25 percent of the market share. In 2008, the company processed, packaged and sold about 50 000 tonnes of tuna and generated approximately USD 166 million in revenues and currently employs approximately 3 200 people in the Côte d’Ivoire and Madagascar.
There is no doubt that prices of canned tuna raw material have experienced various ups and downs in the opening months of the year, going from USD 1 600/tonne in December 2008, down to USD 900/tonne in January 2009, up to USD 1 100/tonne the following months, down to USD 950/tonne at present, but with strong indications of new price hikes in coming months.
