Starting in mid May 2009 tuna prices in all major catching areas began to rise because of fears that upcoming tuna fishing bans in these areas will squeeze global supply for the canning industry.
Prices of all groundfish species declined sharply in the first half of 2009. The main reason was lower demand by institutional clients. In addition, cheap cultured fish – pangasius and tilapia – create strong competition in the market.
The groundfish market continues to be well supplied and prices are declining. More availability of Alaska pollack from Russia has created a downward spiral for groundfish prices. Demand is not expected to improve in coming months.
