Image: Bangkok Thurakit / FIS
Thai Tuna Exports Continue to Rise in the First Quarter
THAILAND
Friday, July 05, 2024, 07:00 (GMT + 9)
Continuously since the beginning of 2024, Thailand's tuna exports have grown continuously. However, the increase in incidence is not high. Cumulatively in the first 3 months of 2024, the export value reached nearly 619 million USD, up 15% over the same period in 2023, even higher than in 2022.
Source: Golden Prize
Currently, Thai tuna products are exported to more than 120 countries around the world. In particular, the US, Japan and UAE are the three largest import markets for Thai tuna.
In the US market, Thailand's tuna exports are increasing. The value of Thai tuna exports to the US in the first quarter of 2024 reached more than 130 million USD, an increase of 16% over the same period in 2023. Thailand is also the largest tuna supplier to the US with a proportion of 27%. total import value in the first quarter of 2024.
Source: Vasep
Along with the US, exports to the Middle East are also increasing by 18% over the same period. In terms of value, this market block is currently the largest importer of Thai tuna. In particular, the UAE, Israel and Saudi Arabia are the three largest import markets for Thai tuna in the Middle East. While the UAE and Israel sharply increased imports from Thailand, 77% and 87% respectively, exports to Saudi Arabia decreased by 32%.
Thailand's tuna exports to the EU are also increasing again with an increase of 31%. However, the value of tuna exports to the EU is still low, reaching just over 11 million USD. In this market block, although Thai fisheries have had their yellow card removed by the EC, they do not enjoy tariff incentives, so their competitiveness is low.
Source: Vasep.
Contrary to the export trend to the above markets, Thailand's tuna exports to Japan decreased. Thailand's tuna export value to Japan decreased by 16%, reaching nearly 53 million USD.
In addition, Thailand's tuna exports to markets in Oceania, including Australia, New Zealand, PNG, Solomon Islands..., remained at the same level compared to the same period in the first quarter of this year. Although, exports to Australia, the main market of Thai processors in this region, decreased slightly by 5% this quarter.
Source: Vasep (Translated from the original in Vietnamese)
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