Thai Canned Tuna Performed Swimmingly in 2020

Published 2021년 3월 25일

Thailand is the world’s 5th largest exporter of processed seafood and the top canned tuna exporter worldwide, exporting a value of USD 2.36 billion in 2020. 2020 was a very successful canned tuna season for Thailand, as consumption of inexpensive and shelf-stable canned tuna increased worldwide and generated favorable international trade. However, deliveries were affected by a shortage of containers in the country. Tridge interviewed Tanakrid Buaphong, an exporter from P.P.S. Tuna Co. Ltd to gain further insight.

Increased global demand pushes exports up

Covid-19 has increased the demand for canned food and tuna, with consumers preferring inexpensive products with a high shelf life. Thai canned tuna exports grew by approximately 8% in 2020, year on year.

“Orders increased significantly last year (2020); as a result, our export volumes went up, and we’re hoping for a further increase in 2021. Also, as Thai exporters, we offer prices that are very competitive and tuna that is superior in quality, taste, and appearance,” added Buaphong.

Exported value of HS Code: 160414 - Prepared or preserved tunas, skipjack, and Atlantic bonito, whole or in pieces (2016 - 2020)

Source: ITC Trade map

Thailand's top canned tuna markets in 2020 were the US, Japan, Australia, Libya, and Egypt. The canned tuna market remains positive in North America. In the US, retail demand for both conventional (tuna in oil, brine) and value-added products (in-pouch, in-cups) has been good but remains low in the foodservice sector. During the first six months of 2020, US imports of processed and canned tuna increased by 16% compared to the mid-year period in 2019. In Canada, canned tuna rose by 28.6% during the first six months of 2020 to 20,344 tonnes, of which Thailand supplied 84 percent.

Top Importers of Thai canned tuna (2019)

Source: ITC Trade map

Market Outlook

Despite the increased demand, the significant drawback currently faced by Thai exporters is a shortage of containers, as thousands of containers remain stuck at US and European ports due to COVID-19 restrictions. According to the Thai Tuna Industry Association, efforts are being made to urge the ministries of Commerce and Transport to coordinate with foreign authorities to send containers back as soon as possible. As a result, freight fees have increased to the highest in 15 years, from 2020’s USD 20-50 per 20-foot container to USD 600-800 per container.

“Yes, the freight situation is still a problem. At some ports of destination, there is still a shortage of containers, and that is affecting deliveries. This has been the case from last year when COVID-19 restrictions began.” said Buaphong.

According to the Thai Tuna Industry Association, Thai tuna exports are expected to increase by at least 5%, as orders for delivery within the first quarter of 2021 have been firm. Buaphong also iterated a similar sentiment, stating that the 2021 season has begun well, with demand remaining strong in most markets, especially in the US, where retail demand has remained stable.