Thai exports of canned tuna grew by more than 13% in the first five months of this year.
Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO), said the value of canned tuna exports for the period was US$979 million, an expansion of 13.4% year-on-year.
Thailand has exported 221,092 tonnes of canned tuna in 2024, up 19.4% year-on-year.
Canned tuna is used as a raw material in the production of pet food.
In the first five months of 2024, Thailand's pet food exports soared to $1.07 billion, an increase of 37.6% year-on-year, which reflect a recovery for the tuna industry in all product categories in the value chain.
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 $173 million (8.27%), Libya $150 million (7.2%), and Saudi Arabia $138 million (6.61%).
The top five exporters of canned tuna are Thailand ($2.09 billion), Ecuador ($1.12 billion), China ($832 million), Spain ($792 million) and the Netherlands ($314 million).
The US is the largest importer with a value of $1.18 billion, accounting for 13.5% of the world market, followed by European nations Italy, Spain, France and Germany, totalling $2.82 billion, representing a market share of 32.2%.
Thailand claims a 38.1% share of the US canned tuna market and 0.59% of the European market.
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.
Thailand's competitive strength in exporting canned tuna is its advanced production technology, which caters to global market demand and aligns with international standards, said Mr Poonpong.
Furthermore, its strategic location at the centre of Southeast Asia enables Thailand to have an extensive network covering procurement of raw materials, production, and distribution channels in the main import markets.
To increase Thailand's competitiveness and maintain its position as the top exporter of canned tuna, the industry was recommended 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, said the office.
The Thai government wants to elevate the agricultural industry to support global food security.
