- Thomas Schneidawind
News: Majestic Seafood tuna factory suspends production
A few days ago, it was announced that a major fish cannery located in Papua New Guinea - Majestic Seafood Co. Ltd - is suspending production.
According to regional newspaper reports, about 5,000 people are currently forced to stop working there. A spokesman for the company explained that the suspension of production was unavoidable, citing the steadily rising prices for tuna as the reason. A sustainable business is not possible at the moment for the factory, which is a joint venture between Thai Union Manufacturing, Century Canning and Frabelle Fishing.
Background: Tuna catch volumes have been falling drastically since November 2022. At the same time, commodity prices are rising and breaking one record after another - we last reported on price trends on May 2 visualized for World Tuna Day.
Of course, news like that from Majestic Seafood concerns us all: Many people are affected and nobody knows what will happen next - with the company and in the industry as a whole. In our Food News from Paul M. Müller, we give space to precisely such topics. The next report will be published in three weeks' time. If you would like to subscribe free of charge, you can do here.
Tell a friend:
Our expert
Thomas Schneidawind
Managing director,
Contact person for
Beans, capers, peppers, hot peppers and tomato products
