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Majuro — Prices for skipjack tuna on the world market have plummeted since hitting an all-time record high of US$2,350 per metric ton in mid-2013, and now hover in the US$1,200 per metric ton range.
The Parties to the Nauru Agreement (PNA) see skipjack prices beginning to rebound over the next few months because PNA members have agreed to reduce the number of fishing days available to the industry, and the current over-supply of fish on the market that is keeping prices low is expected to end in the near future.