Thai Tuna Exports Experience Major Increase With Double-Digit Growth

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Over the first five months of this year, Thailand saw a 13% growth in its canned tuna exports, reaching a value of $979 million, says Poonpong Naiyanapakorn, the head of the Trade Policy and Strategy Office (TPSO) in Thailand. There was a 19.4% increase in canned tuna exports compared to the previous year, reaching 221,092 tonnes. This rise could partly be due to the use of canned tuna in pet food production.

 

Thailand's pet food exports also grew substantially, reaching $1.07 billion, which is a 37.6% increase compared to last year. This indicates a broader recovery in the tuna industry.

 

In 2023, the main markets for Thailand's canned tuna exports were the United States ($482 million or 23.1% of total exports), Japan ($257 million or 12.3%), Australia ($173 million or 8.27%), Libya ($150 million or 7.2%), and Saudi Arabia ($138 million or 6.61%).

 

Thailand ranked as the top global exporter of canned tuna with exports valued at $2.09 billion. Other major exporters included Ecuador ($1.12 billion), China ($832 million), Spain ($792 million), and the Netherlands ($314 million).

 

The US was the biggest importer of canned tuna, spending $1.18 billion and making up 13.5% of the global market. Together, European countries like Italy, Spain, France, and Germany imported canned tuna worth $2.82 billion, making up 32.2% of the market.

 

 

Thailand leads the US canned tuna market with a 38.1% share, whereas its share in Europe is 0.59%. The significant increase in Thai canned tuna exports can possibly be credited to factors like cheaper raw tuna costs, increased demand for halal food, and political risks leading to higher product stockpiles.

 

Naiyanapakorn explains that Thailand's strength in canned tuna exports results from its advanced production technology, adherence to international standards, and strategic location in Southeast Asia that facilitates a comprehensive supply chain network.

 

The TPSO advises focusing on quality control and implementing a traceability system to maintain Thailand's leading position in canned tuna exports. Adding value to products and striving for sustainability could also help target new markets, particularly in the Middle East and Europe.

 

The Thai government is aiming to boost the agricultural sector to contribute to global food security.

 

File photo for reference only

 

-- 2024-07-01

 

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