American demand for fresh tuna is exceeding supply, according to Joe Murphy, the California-based marketing representative of Chinese fishing firm Liancheng Overseas Fishery (Shenzhen) Co. Ltd.
Liancheng operates in the Western and Central Pacific, where the firm has onshore bases from which the fish is airlifted to global markets such as the U.S., Japan, and Europe. Prices for tuna in Japan have risen slightly in the past few weeks, though the outlook for tuna demand and pricing in the U.S. remains highly contingent on the outlook for vaccines, Murphy told SeafoodSource.
“Pricing certainty did fall this time last year, but it rebounded even for fresh,” he said. “Demand for fresh fell in March to May but picked up in June. Restaurants have continued to reopen, driving demand from foodservice clients. One particular client has asked for two shipments per week of fresh.”
Demand is beginning to grow from the foodservice sector, according to Murphy. By contrast, demand for frozen tuna has stayed constant but prices have yet to lift significantly, suggesting supply remains strong, he said.
Demand for farmed bluefin, which Liancheng sources in Spain and Australia, has been “steady” in the Chinese and Hong Kong market, Murphy said.
Meanwhile the scaling back of the Tokyo Olympics – international fans won't be attending the games this summer – is a downer on growth of interest in Marine Stewardship Council-certified tuna in Japan.
“We had been contacted by several big companies in Japan for MSC-certified product, but now that’s not happening,” Murphy said.
Three interconnected Chinese fishing companies, Liancheng Overseas Fishery (Shenzhen) Co Ltd (SZLC), China Southern Fishery Shenzhen Co. Ltd (CSFC), and Liancheng Overseas Fishery (FSM) Co. Ltd. (FZLC), achieved MSC certification for yellowfin in October 2018 and bigeye in March 2019. Murphy previously told SeafoodSource the certifications have resulted in premium pricing and demand for his company’s tuna offerings.
Photo courtesy of Liancheng Overseas Fishery
