"Our industry has to shoulder higher costs," said Theera at the 12th Infofish World Tuna Trade Conference and Exhibition.
Minister Theera Wongsamu at 12th Infofish World Tuna Trade Conference and Exhibition. (Photo: Infofish)
The cost and freight (CFR) price of skipjack raw material climbed from USD 918 in 2006 to USD 1,800 - USD 2,025 per ton in 2011, Infofish informed.
Last year, Thailand exported 594,751 tonnes of tuna, a drop of almost 2 per cent by volume, worth THB 60 billion (USD 1.9 billion). Import of frozen tuna fell by 5.3 per cent to 787,088 tonnes, mainly from Taiwan, the US, South Korea, Vanuatu, Japan, the Marshall Islands, Europe and the Maldives, Bangkok Post reports.
Wimol Jantrarotai, director-general of the Thai Fishery Department, said it is "unlikely" that tuna exports would continue to drop and that a rebound is largely contingent on how much raw tuna can be procured. Thailand imports as much as 85 per cent of 70,000-80,000 tonnes of the raw material required for production.
"Apart from the declining supply of tuna, limits on the number of tuna ships and pirate attacks have dampened the industry's prospects even as demand keeps rising in the global market," explained Wimol.
Catches of five major tuna species have idled at around 4.3-4.4 million tonnes in recent years due to declining stocks, noted Infofish.
Narin Niruttinanon, deputy general manager of Thai Union Manufacturing Co, thinks Thailand's tuna exports could continue to skid this year because the supply of raw material is limited.
Thai Union Frozen Products Plc (TUF) has noted that rising competition to secure imported raw materials has prompted the company to discount the possibility of major domestic expansion. The group requires 300,000 tonnes a year of tuna for local production, of which 80 per cent is sourced from the Pacific Ocean and the balance from the Indian Ocean.
"Countries with tuna in their territory encourage foreign companies to set up manufacturing facilities in their country to create employment, while access fees to catch tuna have risen from USD 200,000- USD 300,000 per ship per year to USD 1 million," said Narin.
Meanwhile, Greenpeace this week accused the tuna industry of continuing to push forward the decimation of fish stocks and called for an end to fishing methods that produce bycatch and urged “less boats, more fish” at the Infofish convention.
Five tuna species are already classed as "threatened" or "near threatened" with extinction due to overfishing, according to the Red List of Threatened Species.
“The tuna industry is on course to fishing itself out of existence. If we want healthy oceans and a viable tuna industry tomorrow, we simply need fewer boats on the water taking tuna,” said Sari Tolvanen, Greenpeace International oceans campaigner.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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