Thailand: Preserved Tuna Market 2024

Preserved Tuna Market Size in Thailand

The Thai preserved tuna market skyrocketed to $X in 2021, increasing by 82% against the previous year. Overall, consumption enjoyed a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Preserved Tuna Production in Thailand

In value terms, preserved tuna production contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild shrinkage. The pace of growth was the most pronounced in 2018 when the production volume increased by 8.8% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Preserved Tuna Exports

Exports from Thailand

In 2021, the amount of tuna (prepared or preserved) exported from Thailand shrank remarkably to X tons, waning by -19.2% on 2020 figures. Over the period under review, exports recorded a slight descent. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved tuna exports reduced remarkably to $X in 2021. Overall, exports continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2018 when exports increased by 9.2% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Egypt (X tons) and Japan (X tons) were the main destinations of preserved tuna exports from Thailand, together accounting for 44% of total exports. These countries were followed by Australia, Canada, Saudi Arabia, Libya, the United Arab Emirates, Yemen, Israel, Peru, South Africa and Chile, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +18.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for tuna (prepared or preserved) exports from Thailand, comprising 23% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by Egypt, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+0.1% per year) and Egypt (-0.9% per year).

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the export price showed a mild shrinkage. The pace of growth was the most pronounced in 2017 an increase of 19%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+0.8%), while the prices for the other major destinations experienced a decline.

Preserved Tuna Imports

Imports into Thailand

In 2021, supplies from abroad of tuna (prepared or preserved) decreased by -7.8% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 46% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, preserved tuna imports shrank markedly to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 52% against the previous year. Imports peaked at $X in 2020, and then declined remarkably in the following year.

Imports by Country

China (X tons), Indonesia (X tons) and Vietnam (X tons) were the main suppliers of preserved tuna imports to Thailand, with a combined 100% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +8.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Indonesia ($X) and Vietnam ($X) were the largest preserved tuna suppliers to Thailand, with a combined 99% share of total imports.

Among the main suppliers, China, with a CAGR of +2.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, declining by -12.4% against the previous year. Over the period under review, the import price showed a deep slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 17% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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