Thailand's canned tuna industry has experienced significant growth, with exports increasing by over 13% in the first five months of 2024. According to Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO), the value of canned tuna exports reached $979 million, a 13.4% increase compared to the same period last year. The country exported 221,092 tonnes of canned tuna, marking a 19.4% year-on-year growth.
Canned tuna serves as a crucial raw material for the production of pet food, which also saw a substantial rise. Thailand's pet food exports in the first five months of 2024 soared to $1.07 billion, reflecting a 37.6% year-on-year increase and highlighting the recovery of the tuna industry across all product categories.
In 2023, the top five export markets for Thai canned tuna were the US ($482 million, 23.1% of total exports), Japan ($257 million, 12.3%), Australia ($173 million, 8.27%), Libya ($150 million, 7.2%), and Saudi Arabia ($138 million, 6.61%).
Globally, Thailand remains the leading exporter of canned tuna, with exports valued at $2.09 billion, followed by Ecuador ($1.12 billion), China ($832 million), Spain ($792 million), and the Netherlands ($314 million). The US stands as the largest importer with $1.18 billion in value, accounting for 13.5% of the world market, followed by Italy, Spain, France, and Germany, collectively holding a 32.2% market share.
Thailand's success in the canned tuna market can be attributed to several factors, including lower raw tuna costs, rising demand for halal food, and an increase in product stocks due to geopolitical dynamics. Thailand's advanced production technology and strategic location in Southeast Asia enhance its ability to meet global market demands and maintain international standards, according to Mr. Poonpong.
To sustain its leadership position, the Thai tuna industry is advised to focus on quality control, implement robust traceability systems, support sustainable goals, and add value to products. These measures will help expand Thailand's reach into new markets, particularly in the Middle East and Europe, and contribute to global food security.
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