Tuna returns to normality
The effect of the tsnumai on tuna canning is not expected to be as severe as many feared, said trade sources.
Of the main producing countries, only the Maldives felt the full effect of the disaster, which halted production. But the infrastructure was not seriously damaged and a return to processing is expected shortly. Raw material prices prior to the tsunami were weakening, but the trend has been reversed in the wake of concern over damage to fishing vessels and disturbance to stocks.
A UK trader said: “Few packers are prepared to quote as damage assessment is made, but we expect normality to return in the next couple of weeks and prices to remain stable.”
Promotional activity will reappear in March after some months of absence due to high fish costs. The weaker dollar and lower production costs have paved the way for new deals.
Price points remain confidential but the 185g can four-pack will no doubt be the main multibuy attraction.
Olive oil retail prices are set to rise 20% in the spring following adverse weather. Hardest hit is Spain, which last year harvested 1.4 million tonnes but is expecting only 800,000 tonnes.
Processors have withdrawn offers and world production may not reach the 2.5 million tonnes needed.
One industry source said: “Lampante and EV grades are at the same level. Buyers are making requests in many different directions, which has the effect of making current demand look higher than it is.”
Brazilian cattle prices have hit a four-year high, resulting in canner Frigorificos increasing corned beef and hot pack prices by 11%. World demand for Brazilian beef is up 60% year-on-year, driven by demand in Russia and Eastern Europe. And China commences imports at the end of March. UK importers expect more rises and fear adverse consumer reaction.
Olive oil prices up
Brazilian pack up 11%
The effect of the tsnumai on tuna canning is not expected to be as severe as many feared, said trade sources.
Of the main producing countries, only the Maldives felt the full effect of the disaster, which halted production. But the infrastructure was not seriously damaged and a return to processing is expected shortly. Raw material prices prior to the tsunami were weakening, but the trend has been reversed in the wake of concern over damage to fishing vessels and disturbance to stocks.
A UK trader said: “Few packers are prepared to quote as damage assessment is made, but we expect normality to return in the next couple of weeks and prices to remain stable.”
Promotional activity will reappear in March after some months of absence due to high fish costs. The weaker dollar and lower production costs have paved the way for new deals.
Price points remain confidential but the 185g can four-pack will no doubt be the main multibuy attraction.
Olive oil retail prices are set to rise 20% in the spring following adverse weather. Hardest hit is Spain, which last year harvested 1.4 million tonnes but is expecting only 800,000 tonnes.
Processors have withdrawn offers and world production may not reach the 2.5 million tonnes needed.
One industry source said: “Lampante and EV grades are at the same level. Buyers are making requests in many different directions, which has the effect of making current demand look higher than it is.”
Brazilian cattle prices have hit a four-year high, resulting in canner Frigorificos increasing corned beef and hot pack prices by 11%. World demand for Brazilian beef is up 60% year-on-year, driven by demand in Russia and Eastern Europe. And China commences imports at the end of March. UK importers expect more rises and fear adverse consumer reaction.
Olive oil prices up
Brazilian pack up 11%
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