Thailand tops world’s canned tuna exports

Thailand exported 221,092 tonnes of canned tuna in the first five months of 2024 with a value of $978.58 million, up 19.39% in volume and 13.4% in value compared to the same period last year.

Besides, by-product from canned tuna production is used as a raw material in the production of pet food. In the review period, the country’s pet food exports soared to $1.07 billion.

Director-general of the Trade Policy and Strategy Office (TPSO) Poonpong Naiyanapakorn acknowledged that the figures have represented the industry’s recovery.

In 2023, the top five canned tuna export markets for Thailand were the US with a value of $482 million, accounting for 23.1% of the total, Japan at $257 million (12.3%), Australia at $172.68 million (8.27%), Libya at $150 million (7.2%), and Saudi Arabia $137.92 million (6.61%).

Supporting 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 TPSO.

Poonpong noted that to increase Thailand's competitiveness and maintain its position as the top exporter of canned tuna, the industry needs to focus on quality control to meet international standards, including a traceability system, as well as supporting sustainable goals and adding value to products to expand to new potential markets, particularly in the Middle East and Europe.

Currently, the US is the largest importer with a value of 1.18 billion in 2023, accounting for 13.5% of the world market, followed by European markets, including Italy, Spain, France and Germany, totalling $2.82 billion, representing a market share of 32.2%.