Thai canned tuna is the world leader with export volumes surging by 19%
Thailand exported 221,092 tons of canned tuna during the first five months of 2024, an increase of 19.39% compared to the same period last year.
The exports were valued at $978.56 million, a growth of 13.40%.
In 2023, Thailand exported 445,000 tons of canned tuna, down 13.42% year on year, valued at $2,087.30 million, down 9.34% YoY.
Additionally, by-products from canned tuna production have been utilised as raw materials for pet food manufacturing. It was noted that the export value of dog and cat food in the first five months of 2024 amounted to 337,579 tons, a 21.64% increase, valued at $1.071 billion, representing a 37.60% growth.
Poonpong Naiyanapakorn, director of the Trade Policy and Strategy Office (TPSO), said that this signalled a recovery in the tuna industry across all product lines within the value chain.
Thailand’s top five canned tuna export markets in 2023 were: 1. United States, with an export value of $482.06 million, accounting for 23.10% of Thailand’s total canned tuna exports; 2. Japan - $257.27 million, accounting for 12.33%; 3. Australia - $172.68 million, accounting for 8.27%; 4. Libya - $150.37 million, accounting for 7.20%; 5. Saudi Arabia - $137.92 million, accounting for 6.61%.
Globally, the top five canned tuna exporters were: 1. Thailand, with an export value of $2,08 billion; 2. Ecuador - $1.188 billion; 3. China - $832.24 million; 4. Spain - $792.49 million; 5. Netherlands - $313.75 million.
The United States was the top importer, with a total import value of $1.181 billion, accounting for 13.48% of the world’s total imports. The second to fifth places were in the European market: Italy, Spain, France, and Germany, with a combined import value of $2.822 billion, accounting for 32.20% of the world’s total imports.
Of these major markets, Thailand held a market share of 38.14% in the US. In Europe, a market with high potential, Thailand’s market share was only 0.59%. Among other high-value markets where Thailand has a significant market share, Japan and Australia stood out, with market shares of 57.13% and 77.57%, respectively.
The factors supporting the growth of Thailand’s canned tuna export value this year include lower tuna costs, the growing demand for halal food, and geopolitical risks leading to increased stockpiling of goods. This trend is evident from the rising import values in Middle Eastern countries. Thus, Thailand, as a capable producer with comprehensive and internationally standard production technologies, can develop products that meet market demands, Poonpong said.
Thailand’s advantage in geographical location for sourcing tuna worldwide, along with an extensive network from raw material procurement, production, and distribution channels in key markets, presents a good opportunity for Thai businesses to enhance canned tuna exports to international markets, Poonpong added.
"Thailand's canned tuna industry is robust, as the world’s leading exporter of canned tuna for a long time. To enhance competitiveness and maintain Thailand’s position as the world’s leading canned tuna exporter, it is crucial to focus on maintaining international hygiene standards in production, establishing a traceability system, and implementing sustainability policies," Poonpong said.
"Furthermore, creating added value for products to expand into new potential markets, especially in the Middle East and Europe, will play a significant role in driving the government's vision of advancing Thailand as a global agriculture and food hub in the future," he added.
