Thailand will have to increase its fish imports to cover for a 40 percent drop in local fish landings, according to the vice chair of the committee on fisheries at the Thai Chamber of Commerce.
Leading the demand for more product, local surimi factories are looking to increased imports of cod to make their orders, Anucha Techanitisanad said.
“We need materials, our strength is in processing plants,” Techanitisanad said.” This is a big opportunity for exporters…it’s a two-way trade now.”
Data from Thailand’s government shows in the first seven months of 2017, the country’s surimi exports fell 19.7 percent in volume and 21.7 percent in value terms over the same period in 2016. Exports in 2016 fell 25.7 percent in volume and 22.49 percent in value terms.
Thailand notched up USD 2.9 billion (EUR 2.4 billion) in imports in 2016, up 17 percent year-on-year with China, Taiwan, and Vietnam the top suppliers. The U.S. has a five percent market share, behind other players like Australia and New Zealand – both of which have free trade agreements with Thailand.
With wild-caught fish harder to acquire, sustainability of supply is becoming a bigger factor in the buying choices of Thai importers, Techanitisanad said.
