TOKYO -- The price of frozen bonito is falling amid sluggish demand due to continued higher prices. The major ingredient in canned tuna is currently traded at $1,200 per ton on the Bangkok market, which sets the international benchmark. This is half the price of a year earlier when the price was high.
Bonito is caught in the Central and Western Pacific Ocean and the Indian Ocean, and many of the fish are unloaded in Bangkok. In spring last year, the trading price was more than $2,300 per ton in Bangkok due to a poor catch in the Pacific Ocean and growing demand for canned tuna from the U.S. and Europe. The higher price continued and gradually pushed down demand.