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Tuna Market Report - Thailand - November 2008
Thailand
expands top performance
Despite the skyrocketing prices of tuna worldwide, Thailand imported
more raw materials for canning during the first half of this year; overall
imports increased by 4.1%. However, yellowfin and
albacore imports were below last year’s levels. Imports
of raw material reached 377 000 tonnes in the first half of 2008, some 8%
ahead of the period of last year. The predominant species continues to be
skipjack, accounting for over 80% of Thai frozen tuna imports.
Thai export figures for the first six months of 2008 show a different picture
from US
import figures. In fact Thai customs record some 43 000 tonnes of exports of
canned tuna to the USA,
which is 12% higher than the corresponding 2007 figure. Some of the
difference between Thai export and US import
figures can be explained by the delay caused by transport and storage in
bounded warehouses. Thus higher Thai exports to the US market indicates better
sales to this market in coming months.
Overall, Thai canned tuna exports performed well. In the first half of 2008,
the country reported 249 000 tonnes, which is 33 000 tonnes higher than the
corresponding figure for 2007. Arabic countries are now an important market
for Thai canned tuna, taking over 20% of total exports. Egypt, Libya and Saudi Arabia
are among the top ten countries of destination for Thai canned tuna, all
reporting substantial increases in sales during 2008. Germany was the
only country among the main markets to report declining sales. Supermarkets
and discounters there unwilling to pay the present high prices. Mexico has
emerged as a major market this year with imports of canned tuna from Thailand
increasing from 1 184 tonnes last year to 4 180 tonnes this year.
Skipjack prices in Bangkok
reached an all time high of US$ 2 000/MT in July 2008, but have declined
steeply since to a reported US 1 600/MT. Further declines are likely, in view
of declining fuel prices, lower demand and an appreciation of the US dollar.
by Helga Josupeit (GLOBEFISH)
© FAO GLOBEFISH 2008
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