(CTN News) – Thailand exported 221,092 tonnes of canned tuna in the first five months of 2024, worth $978.58 million, an increase of 19.39% in volume and 13.4% in value over the same time last year.
Furthermore, byproducts from canned tuna processing are used as raw materials in pet food production. The country’s pet food exports increased to $1.07 billion during the study year.
Poonpong Naiyanapakorn, Director-General of the Trade Policy and Strategy Office (TPSO), admitted that the data showed an industry revival.
Thailand’s top 5 canned tuna export destinations
Thailand’s top five canned tuna export destinations in 2023 were the United States ($482 million, 23.1% of total), Japan ($257 million, 12.3%), Australia ($172.68 million, 8.27%), Libya ($150 million, 7.2%), and Saudi Arabia ($137.92 million, 6.61%).
According to UCN, lower raw tuna costs, rising demand for halal food, and geopolitical risks, which have resulted in bigger product supplies, all contributed to this year’s growth in Thai canned tuna exports.
Poonpong stated that in order to increase Thailand’s competitiveness and maintain its position as the leading exporter of canned tuna, the industry must focus on quality control to meet international standards, including a traceability system. It must also support sustainable goals and add value to products to expand into new potential markets, particularly in the Middle East and Europe.
Currently, the United States is the top importer, with a value of $1.18 billion in 2023, accounting for 13.5% of the global market, followed by European markets such as Italy, Spain, France, and Germany, with a total of $2.82 billion, representing a 32.2% share.
Several Thai canned tuna brands have enjoyed international success. Thai Union Group, the largest canned tuna producer, has established a global presence through high-quality products and strategic acquisitions. Other brands, such as Sea Value and Pataya Food Group, have achieved great progress in the global market.
Analyzing competitors can give valuable information to Thai producers. Learning from the accomplishments and problems of other tuna-exporting countries can help Thailand fine-tune its strategies and sustain its competitive advantage.
Thailand’s canned tuna sector appears to be on the upswing. With rising worldwide demand for seafood and a greater emphasis on sustainability, there are numerous potential for expansion. Thai producers are well-positioned to benefit from these trends and increase their market share.
Companies must innovate to stay ahead of the competition. Thai companies always create new goods and flavors to match shifting consumer tastes. From organic alternatives to ready-to-eat meals, the selections are limitless.
By Arsi Mughal
Anna Wong serves as the editor of the Chiang Rai Times, bringing precision and clarity to the publication. Her leadership ensures that the news reaches readers with accuracy and insight. With a keen eye for detail,
