March 3, 2021 — Thai Union has committed to full transparency in its international tuna supply chain by 2025.
The Bangkok, Thailand-based seafood company, which notched more than USD 4.1 billion (EUR 3.3 billion) in revenue in 2019, signed a partnership with The Nature Conservancy on Wednesday, 3 March, committing to full supply-chain transparency across its global tuna supply chains.
February 22, 2021 — Bangkok, Thailand-based seafood giant Thai Union earned a record profit last year despite losses from its Red Lobster affiliate, the company said in its Q4 results report, released 22 February.
The company’s net income in the fourth quarter rose 38 percent year-on-year to THB 1.46 billion (USD 48.6 million, EUR 40 million) on the back of strong core business results. The company’s net profit reached THB 6.25 billion (USD 208 million, EUR 17.2 million) last year, an increase of 64 percent from 2019. Thai Union said this is the first time that its net profit has surpassed THB 6 billion (USD 200 million, EUR 164.7 million).
January 22, 2021 — A severe shortage of shipping containers is leading to rising shipping costs and difficulty moving goods, playing havoc with seafood exporters in Asia.
The shortage has been felt by all major exporters in Vietnam, Thailand, China, and India. Data from Vietnamese seafood exporters show that the shipping cost to the European Union rose between 145 percent and 276 percent in January, compared to December last year.
December 21, 2020 — Thai Union announced on Monday, 21 December, that one of its employees in Samut Sakhon has tested positive for the coronavirus, amid a resurgence of infections in the Thai province.
The seafood processing hub, located west of Bangkok capital, had seen no infection for 250 days before first case was detected last week.
November 9, 2020 — The Gulf of Thailand’s mixed trawl fishery has become the first fishery improvement program (FIP) in the world adopted to the MarinTrust Improver Program, CP Foods said in a statement on 4 November.
The decision was made during a meeting of the MarinTrust governing body committee in October.
October 22, 2020 — Fisheries officials from the European Union, South Korea, Taiwan, Thailand, and the United States have met to discuss cooperation on limiting the use of flags of convenience by distant-water fishery companies involved in illegal fishing.
The online meeting, which took place 15 October, follows a report by the advocacy group Environmental Justice Foundation criticizing the process whereby fishing companies buy flags from flag states, which are then unwilling or unable to monitor the activity of problem trawlers. The report, “Off the Hook: How Flags of Convenience Let Illegal Fishing Go Unpunished,” details the damage that flags of convenience cause to fisheries and how they are used to conduct illegal fishing. In the report, EJF calls for sanctions to end the practice and more transparency surrounding the registration of fishing vessels.
August 26, 2020 — Thai Union is looking at refinancing Red Lobster’s loans, reduced rent from landlords, and potentially closing some locations after the restaurant chain posted a USD 18.4 million (THB 579 million, EUR 15.6 million) loss in the fourth quarter.
The record losses were caused by having to close down all 600 dining rooms for a period of time, Thai Union Chief Financial Officer Joerg Ayrle said on an investor conference call.
July 31, 2020 — A rights group is suggesting the U.S. should downgrade Thailand in its human trafficking ranking, as the latter has not done enough to improve the situation.
In its Trafficking in Persons (TIP) Report 2020 released in June, the U.S. State Department has kept Thailand’s ranking unchanged at Tier 2.
April 21, 2020 — Despite legal and corporate barriers, trade unions are starting to give migrant seafood workers a greater voice in Thailand and across Southeast Asia – enabling them to combat the subpar working conditions that persist on fishing vessels and in seafood processing facilities.
Organizing hasn’t been easy, according to a new report published by the International Labor Rights Forum (ILRF), an advocacy organization. The migrant workers that fill most of the low-wage, low-skill jobs in the Thai seafood industry are legally barred from forming labor unions in Thailand.
April 16, 2020 — Just one kilogram of freshly caught squid a day was almost enough to live on for Thai fishermen like Wisut Boonnak. Now the catch has halved in price and he’s spending more time on village duties.
“It’s the biggest price drop that I can remember,” said Wisut, who’s been fishing for the past 40 years off the southern Thai coast. “There are fewer buyers around now because exports are lower.” Wisut used to go to sea daily to catch squid and mackerel. These days he’s out just once or twice a week.
The global seafood industry, worth hundreds of billions of dollars, is seeing demand crater. From lobster fishermen in North America to salmon farmers in Norway and shrimp producers in Vietnam, people are hurting as the coronavirus shuts cafes and restaurants and wreaks havoc with supply chains. Whether farmed or wild, fresh or processed, few areas have escaped the impact.