Tuna exports to Mexico grow strongly

DNHN - Thanks to the benefits of the CPTPP Agreement and the growing demand for tuna imports from Mexico, Vietnam's tuna exports to this market will become more favorable and develop.

Association of Seafood Exporters and Producers (VASEP), in the first four months of 2022, Vietnam's tuna exports to Mexico reached US$5.1 million, up 41% over the same period in 2021. Currently, Mexico is the 13th largest tuna import market of Vietnam.

The implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), tuna exports from Vietnam to Mexico have significantly improved. However, due to the impact of the Covid-19 epidemic, the export of tuna to this market has been significantly impacted by high logistics, gasoline, and transportation costs.

According to the commitments in the CPTPP Agreement, Vietnam's frozen tuna meat/fillets with HS code 0304 code to this market will be reduced from 15% tariff (according to MNF) to 0%, which is creating competitive advantage for Vietnam's tuna products compared to Asian countries or Ecuador when exporting to this market.

Currently, Mexico is a country with a large tuna production industry. However, the Inter-American Tuna Commission (IATTC)'s fishing bans in the Eastern Tropical Pacific Ocean caused a decrease in the catch of the Mexican fleet and the low supply of raw materials from foreign fleets has increased the need to import raw tuna for canned production of this country. Therefore, in recent times, Mexico tends to increase imports of steamed tuna loins from Asian countries, including Vietnam.

Thanks to the benefits of the CPTPP Agreement and the growing demand for tuna imports from Mexico, Vietnam's tuna exports to this market will become more favorable and develop.

The outbreak of the Covid-19 pandemic, however, has caused sea transportation costs to increase, the price of raw tuna to increase, etc. all of these have affected the growth rate of Vietnam's tuna exportsto this distant market.

Recently, the Mexican Government decided to temporarily exempt import tax for 1 year for 66 food and hygiene items, including canned tuna.

This decision of the Mexican Government was made as part of measures to slow the rate of price increase and reduce household consumption, and to form the Anti-Inflation Package.

This decision has somewhat affected the country's tuna imports, and increased competition as the tariff advantages under free trade agreements do not make sense in this context.

Therefore, increasing Vietnam's tuna exports to this market in 2022 is expected to be more difficult, when it is difficult for us to compete on price with suppliers in the same continent with Mexico as Ecuador, or a large supply of cheap tuna from China.

Thương hiệu Sản phẩm Magazine