Seafood Canners Facing Rising Costs From All Directions, Have Little Option to Raise Prices
SEAFOODNEWS.COM by John Sackton - November 7, 2017
The drop in canned tuna consumption again in the US in 2016 is only the tip of the iceberg for seafood canners, who face a host of rising cost pressures. At the same time, canners are restrained from raising prices due to competition and the erosion of sales. The French canning association, that represents 15 French canneries, is sounding the alarm about rising costs.
First, they say canners are being hammered by raw material price increases. “Tuna prices are at record highs. Between January 2016 and July 2017, skipjack almost doubled and yellowfin tuna jumped 74%. The tensions are all the stronger on these two species because fishing restrictions in the Indian Ocean and in the Pacific affect the world production,”, said the association.
But other canned species are seeing price increases as well. Mackerel prices have risen 35% ...
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