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The situation in the Middle East has led to a surge in demand for canned tuna and an increase in raw material prices globally

Published Nov 6, 2024

Tridge summary

The article highlights the significant surge in demand for canned tuna in the global market, particularly in the Middle East, due to geopolitical conflicts, with the situation in Gaza being a key factor. Thailand has seen a 20.7% increase in canned tuna exports to the Middle East from January to September 2024, amounting to 65.98 billion baht (1.96 billion US dollars), as reported by the Thai Ministry of Commerce. This trend is influenced by both the conflict-driven demand and the rapid market growth in countries like Saudi Arabia. Additionally, the price of tuna in Bangkok has reached a high of US$1,530-1,540 per ton due to strong demand and reduced fishing in the Asia-Pacific region, indicating a tight supply situation. The rise in canned tuna exports also reflects the global resurgence in demand for canned food, driven by consumers' preferences for convenience and healthier options in markets such as the United States, Europe, and Australia.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As Israel's war on Gaza continues to escalate, the situation in the Middle East is turbulent, and this geopolitical conflict is driving a surge in demand for canned tuna in the global market. The Thai Ministry of Commerce pointed out that due to the situation in the Middle East, the local demand for basic food has increased significantly, and canned tuna produced in Thailand has become an important supply in the region. Data show that from January to September 2024, Thailand's canned tuna exports to the Middle East increased by 20.7% year-on-year, with sales reaching 65.98 billion baht (about 1.96 billion US dollars). Poonpong, head of the Thai Trade Policy and Strategy Office, said that the export volume of canned tuna from Thailand to the Middle East increased by 20.7% year-on-year, with sales reaching 65.98 billion baht (about 1.96 billion US dollars). Naiyanapakorn told the media that the increase is a direct reflection of changes in supply and demand in the region. According ...
Source: Foodmate
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