Mexico is third in the world in terms of Vietnamese pangasius imports

DNHN - According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Mexico bought more than 73 million USD of pangasius from Vietnam in the first seven months of this year, making Mexico the third largest importer of this commodity.

According to VASEP, Mexico has moved from fourth place in 2021 to become Vietnam's third largest pangasius export market, after only China and the United States.

According to VASEP, following a high growth in the first half of the year, pangasius shipments to important markets such as the US began to decline in July 2022 because stockpiles were building, demand also slowed, and fish prices began to fall.

However, pangasius shipments to Mexico maintained a strong growth rate in July, with a turnover of more than 11 million USD, more than double that of the same month the previous year.

In terms of product structure, frozen pangasius fillets accounted for 94% of the value ($69 million), whereas sliced pangasius accounted for 6% ($4.4 million).

In the first half of this year, the average price of frozen pangasius fillets shipped to the Mexican market was 2.8 USD/kg, which was 63.5% more than the average price of 1.71 USD/kg in the same time in 2021.

According to Ms Le Hang, Deputy Director of VASEP Trade Promotion and Training Center (Vasep Pro), because inflation in Mexico has reached a 22-year high, Mexican consumers must think about and cut their spending on high-priced food goods.

Vietnamese pangasius is a reliable alternative for Mexican seafood importers, thanks to cheap prices and special tax treatment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Before these benefits, numerous pangasius enterprises relocated from other markets to Mexico. 30 Vietnamese seafood firms sent pangasius to Mexico in the first half of this year.

Among these, I.D.I Multinational Development and Investment Joint Stock Company, Vietnam Fish Company Limited, and Cuu Long An Giang Seafood Import-Export Joint Stock Company have the highest export value.

Many pangasius processing companies in Dong Thap, An Giang, Ben Tre, Can Tho, and Vinh Long are also interested in expanding pangasius exports to Mexico.

With these encouraging signs, VASEP predicts that Vietnam's pangasius exports to the Mexican market would reach 125 million USD in 2022, an increase of 80% over 2021.

PV