Tuna: Global Trade Opportunities

Thailand and Spain are markets with global potential to increase their consumption of frozen tuna, and in the case of fresh or refrigerated tuna fillets, the United States is expected to increase its demand in the coming years.

Thursday, January 28, 2021

As new lifestyles in Europe are increasing the need for easy-to-use/prepare and value-added fish formats as consumers find it difficult to cook and prepare fish, tuna has multiple opportunities in the present and future.

You may be interested in "Frozen Shrimp: Sales to the UK Increase"

Taking advantage of opportunities in the most important markets is possible, as long as responsible business practices are made visible through the product and brand. An analysis prepared by the Foreign Trade Promoter of Costa Rica (Procomer) highlights that in the United States, consumers value companies that are transparent about their sourcing practices. Companies must provide information on sourcing and processing to meet consumers' high expectations regarding sustainability.

The paper reviews that "... 38% of U.S. seafood shoppers say they typically buy products that do not contain additives or preservatives so they should look for strategies beyond natural ingredients in their products."

See "Food for Shrimp: Players in Central America"

The report states that "... regarding international marketing opportunities, the following are presented by category:

Frozen tuna: market according to world imports, superior to fillets and fresh and refrigerated tuna. Valued at USD 4,108 M (28% of the total, including canned, CAGR +4% 2015-2019). The countries that are envisioned with potential are Thailand (GDP per capita of imports 16USD, CAGR +6%) Spain (GDP per capita of imports 8USD, CAGR +6%). In Spain, we must emphasize that we compete with countries in the region such as Mexico, El Salvador, Guatemala and Panama. In addition, a market niche should be sought for the placement of yellowfin tuna (current Costa Rican supply), since in this country the most consumed is albacore tuna (perceived higher price and quality).
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Fishing Sector: Opportunities for the Region

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The growing uncertainty about the safety of seafood products exported from China, one of the world's leading producers, could represent an opportunity for Central American countries to gain some insight into the global market.

In this context of new commercial reality, the retail channel will continue to be the main demander in the short term for products that are easy to prepare such as tilapia, salmon, trout, shrimp and others with which consumers feel more comfortable cooking at home.

Exports from Fisheries Grow in Panama

August 2014

Sales of shrimp, shrimp larvae, fish meal and fish oil saw the largest growth out of total exports from the country in the first half of 2014.

Between January and June exports from fisheries and the aquaculture industry were those that showed the best performance, well above traditional goods such as watermelon and pineapple, whose foreign sales decreased by 4% and 24% respectively, compared with the same period in 2013.

Opportunity for Seafood in U.S.

July 2014

85% of the seafood consumed by Americans is imported, with shrimp, freshwater fish fillets and crab having the largest volume of all such goods imported from abroad.

From a statement issued by the Costa Rican Foreign Trade Promotion Office:

Some time ago, the USA depended only on shellfish fished on its coasts, the state of New York was famous for its oysters and Louisiana and Mississippi for its prawns, but things have changed.

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