January 15, 2014 — With supply exceeding demand in the short term, yellowfin tuna importers are looking for creative ways to start reducing inventories. A shortage of product in 2012 that resulted in a flurry of orders to build tuna inventories has left some importers with excess at a time when demand has waned.
Yellowfin processors in Vietnam, Thailand, Indonesia and the Philippines ramped up efforts at a time when contracts with higher prices were in the market, sids Paige Tilghman, executive VP for Twin Tails Seafood Corp. in Miami. As supply grew and prices fell, those with contracts started to feel the pinch, he said.
At the same time, higher prices pushed foodservice operators and other buyers to look at alternatives such as mahimahi or even pangasius, he added.
Read the full story at SeafoodSource.com