₦airaland Forum

Thailand is the world's leading exporter of canned tuna, with exports valued at $2.08 billion in 2023.[1][2][4] The top five canned tuna export markets for Thailand in 2023 were the US ($482 million), Japan ($257 million), Australia ($173 million), Libya ($150 million), and Saudi Arabia ($138 million).[2][4] Thailand's canned tuna exports grew 13.4% in value and 19.39% in volume in the first five months of 2024 compared to the same period in 2023.[2] Factors supporting Thailand's tuna export growth include lower tuna costs, growing demand for halal food, and geopolitical risks leading to increased stockpiling.[2][4] To maintain its position as the top exporter, Thailand needs to focus on quality control, traceability, sustainability, and expanding into new markets like the Middle East and Europe.[2][4]


https://www.youtube.com/watch?v=VWzB6AeS0hE


Credit: BigManBusiness.com


.

Nigerian students, through the National Association of Nigerian Students (NANS), are calling on the federal government to revive the country's moribund palm oil plantations in order to reduce the $600 million spent annually on palm oil imports. Nigeria was once a major producer and exporter of palm oil, but production has declined over the years due to neglect of the sector. NANS argues that reviving these abandoned plantations could boost local palm oil production and reduce the country's reliance on imports. The government has announced plans to invest $500 million to increase palm oil production from 600,000 tons to 5 million tons by 2027, but critics say more support is needed for smallholder farmers who produce 80% of Nigeria's palm oil. Expanding industrial palm plantations is also raising concerns about deforestation and the rights of local communities.


Source: BigManBusiness.com




Enjoy Daily Import Export International Business News On BigManBusiness.com

Thailand has emerged as a key market for Japanese seafood exports as China maintains its ban on Japanese seafood imports. Following the ban, Japan's seafood exports to Thailand have surged, with scallop exports increasing 2.3 times in the first five months of 2024 compared to the previous year[5]. Analysts believe Japan will meet its 2024 target of doubling scallop exports to Thailand to 2.4 billion yen ($15 million) due to a growing Japanese food boom in the country[5]. Japan is also boosting seafood exports to other Southeast Asian markets like Vietnam and Malaysia, as well as the United States, to diversify away from its reliance on the Chinese market[5]. While the loss of China as the biggest buyer has not been fully offset, Japan is actively promoting its seafood products and working to further penetrate the Thai market.



https://bigmanbusiness.com/news/1756/thailand-emerges-as-next-big-market-for-japan-seafood-exports-amid-china-ban/


More Import Export Business News on wvvw.BigManBusiness.com

Cheers

Kudos to Dangote for his vision to make Nigeria a steel powerhouse in West Africa. This move will not only boost local production but also reduce reliance on imports and create jobs.


https://www.youtube.com/watch?v=p6k9b5ls8fQ
Watch and Subscribe to My Import Export Business Youtube Channel

Mauritania, located in West Africa, has a significant trade profile with a diverse range of commodities. The country's top exports include gold, iron ore, processed crustaceans, non-fillet frozen fish, and animal meal and pellets, primarily shipped to China, Canada, the United Arab Emirates, Spain, and Turkey. On the other hand, Mauritania's top imports include refined petroleum, wheat, raw sugar, palm oil, and iron pipes, mainly sourced from China, Spain, Morocco, the United Arab Emirates, and Indonesia. This video will delve deeper into the country's trade dynamics and explore the key commodities driving its economy[1][2][3].



https://www.youtube.com/watch?v=lAqQlh-Vna0