Tuna
Tuna
Price movements (monthly)
Tuna skpj fzn wh >4lb (WCPO) cif TH EBP
Month-on-month Change
Year-on-year Change
Tuna
Price forecast
Tuna skpj fzn wh >4lb (WCPO) cif TH EBP
- Skipjack tuna prices have been trending slightly downward since April 2025, in line with our forecast of a price decline into Q1 2026. Prices have dropped by more than 10% since April, reaching USD 1,500 in December 2025. This decline is likely to be a temporary downward correction, possibly reaching a low in Q1 before another price increase is seen.
- Models have not yet confirmed a price low is in place, so further near-term declines are possible. A low price in Q1/26 would be consistent with seasonal January weakness.
- The decline is likely temporary, and our models point to an upside risk that will need a hedge to protect against. Fundamentals indicate prices are significantly undervalued, below the regression-estimated range. Also, we are approaching the start of a typical seasonal increase following a January low, which poses an upside price risk for late 2026.
- Technical indicators show the price is below the moving average, favouring a possible further decline in the short term, but the RSI is starting to show potential bullish divergence, supporting the idea that the price decline is likely temporary.
- Upside risk into 2026 remains, with prices potentially staying well above current levels, but we need to wait for confirmation that the low is in place.
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