Thailand exported over 220,000 tonnes of canned tuna in the first five months of 2024 with a value of 979 million USD, up 19.4% in volume and 13.4% in value, compared to the same period last year.
Factors for the surge of Thai canned tuna exports this year are lower costs for raw tuna, growing demand for halal food, and geopolitical risks, which have led to higher product stocks, according to Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO).
Thailand’s competitive strength in exporting canned tuna is its advanced production technology, which caters to global market demand and aligns with international standards, Mr Poonpong adds.
Canned tuna is also used as a raw material in pet food production. In the first five months of 2024, Thailand’s pet food exports soared to 1.07 billion USD, an increase of 37.6% year-on-year.
In 2023, the top five canned tuna export markets for Thailand were the US, accounting for 23.1% of the total, Japan at 12.3%, and Australia at 8.27%.
The top five exporters of canned tuna were Thailand, Ecuador, and China.
Thailand claims a 38.1% share of the US canned tuna market and 0.59% of the European market.
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