Positive prospect for Vietnamese pangasius in the Mexican market

(seafood.vasep.com.vn) As of the first half of August 2021, the total value of Vietnamese pangasius exports to the Mexican market reached US$43.76 million, up nearly 70% over the same period last year. With this result, Mexico has now surpassed Brazil and entered the top pangasius export market of Vietnamese seafood enterprises in Latin America.

In the first half of 2021, trade barriers from China and the decline in pangasius exports to the EU over the past several years have caused Vietnamese pangasius enterprises to shift to potential markets in ASEAN, the Middle East or Latin America. . In which, the number of enterprises promoting pangasius exports to Brazil and Mexico increased significantly compared to the previous year.

In the second quarter of 2021, the export value of pangasius to Mexico increased impressively to triple digits, from 166% to 232% over the same period in 2020.

Positive prospect for Vietnamese pangasius in the Mexican market

Mexico is the market with the second highest per capita income in Latin America (after Brazil). Free trade system with relatively low import tax, ranging from 0-35% on average. This is also a market in the CPTPP bloc. According to the CPTPP Agreement, the import tax rate of seafood into the Mexican market will be 0% from the third year. Pangasius is the seafood product imported by Mexico with the largest volume and value, followed by fish tuna products. .

Currently, the average export price of frozen pangasius fillets to the Mexican market ranges from 1.75 to 1.82 USD/kg. Many pangasius enterprises moved from some other markets to Mexico, so by the end of July 2021, there were more than 40 Vietnamese seafood enterprises exporting pangasius to Mexico. The largest of which are: IDI CORP, NAVICO and DATHACO. Pangasius processing enterprises in Dong Thap, An Giang, Ben Tre, Can Tho and Vinh Long are promoting pangasius exports to the Mexican market.

Currently, Vietnam exports to Mexico mainly frozen pangasius fillets and frozen pangasius portion .

 Like many other economies, at the end of August 2021, after more than 18 months of closure due to the Covid-19 epidemic, Mexico cautiously opened its economy and was ready to "live with Covid-19". Currently, Mexican importers have begun to stabilize production and gradually increase the amount of goods supplied to many big cities. The country is also maintaining an open border policy to take advantage of economic benefits, promote production and trade.

Seeing the potential ahead, however, the most necessary thing for Vietnamese pangasius exporters during this time is to soon return to stable production after the gap.

Hopefully, after social distancing efforts to control the disease in many localities, pangasius processing enterprises will soon stabilize again to maintain orders, create jobs for workers and capture promising opportunities for export to the Mexican market.


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SPECIALIST ON
PANGASIUS MARKET

Ms Ta Ha

Email: taha@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

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