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Bumble Bee CEO: “Tuna Category Will Come Into A New Balance” United States, July 27, 12

The raw material price of whole round skipjack tuna is expected to remain high and will continue to rise, but the market will adjust to the new reality, says Chris Lischewski, CEO of Bumble Bee Foods.
So far, the category volume has already been hit by the higher prices – which increased by more than 40% over the last 18 months – with U.S. retailers failing to achieve the promotional price points that are traditionally used to drive tuna volume.
Lischewski, however, is hopeful that “overall category will come into a new balance as we move into the second half of the year.”
The current price in Bangkok of whole round raw skipjack tuna 1.8 kg up is currently stable 2250 USD per metric ton. “Since there seems to be more stability than last year, the cost is not expected to rise at the same pace of the last 18 months. A steady increase of 3-5% is expected in the long term instead, says Lischewski.
Bumble Bee forecasts skipjack prices to remain between USD 2200 and USD 2300 for 2012, while the world’s largest tuna canner.
Fishing closures and other catch reduction measures in the Western and Eastern Pacific Ocean are affecting supply and the overall costs. With the global tuna demand continuing to grow, it is expected to exceed supply in the future and result in higher prices.