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.
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.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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