Thai tuna exports expanded market share thanks to Covid-19

Published 2020년 10월 15일

Tridge summary

Despite the pandemic, Thailand's tuna exports have seen a 14% increase in volume and an 11% increase in value by the end of July 2020. The growth is primarily driven by a 12% increase in canned processed tuna exports, valued at nearly $1.4 billion. The Middle East, USA, Japan, Libya, Australia, Canada, Peru, and EU are the top eight importers of Thai tuna, with the Middle East being the largest market. Thai tuna exports to the US and Japan have also seen growth due to increased demand for canned processed tuna. However, the absence of a free trade agreement (FTA) and lack of preferential tariffs from the GSP in the EU market are hampering Thai tuna products' competitiveness. It is anticipated that tuna exports will continue to grow in the coming months, especially canned tuna products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Association of Seafood Exporters and Producers (VASEP), by the end of July 2020, the country's tuna exports to other markets still increased by 14% in volume and 11% in value. This year, due to the impact of the epidemic, the demand for canned processed tuna, the main export product of Thailand, increased sharply. Therefore, compared to the same period in 2019, Thailand's export of canned processed tuna increased by 12%, reaching nearly $ 1.4 billion. The growth in exports of canned processed tuna has helped offset the decline in Thailand's exports of fresh, raw and frozen tuna. Middle East, USA, Japan, Libya, Australia, Canada, Peru and EU are the eight largest tuna importers from Thailand in the first 7 months of this year. Total Thai tuna exports to these eight markets accounted for nearly 81% of Thailand's total tuna exports during this period. Thus, in the past 2 consecutive years, Thai businesses are turning to boost tuna exports to the Middle East market, ...

Source: Vietnambiz