(seafood.vasep.com.vn) The 4th Covid wave broke out strongly in Ho Chi Minh City and 18 provinces and cities – key seafood processing and export areas of Vietnam, causing a sharp drop in export turnover to many major markets in August 2021. However, in this dark picture at this stressful Covid period, there are still small bright spots in some niche markets such as Mexico and many others.
(Photo source: seafood.vasep.com.vn)
The main export products to the Mexican market are now pangasius and tuna. In August, seafood exports to Mexico reached USD 5.7 million, of which pangasius accounted for 67% with USD 3.84 million, up nearly 49% over the same period last year, tuna accounted for 29% with 1.65 million USD, a sharp increase of 263%.
Accumulated in the first 8 months of 2021, seafood exports to Mexico reached over $59 million, up 77% over the same period last year. Although accounting for just over 1% of seafood export turnover, with the current growth of pangasius and tuna exports, the Mexican market will be the choice of many businesses in the near future with the advantage of import tax under CPTPP free trade agreement.
By the end of August 2021, pangasius exports to Mexico increased by 72%, reaching over 46% and accounting for 4.7% of Vietnam’s pangasius exports. Mexico became the third largest single market in terms of import value of Vietnamese pangasius, after China and the US. Currently, there are 20 companies involved in exporting pangasius to the Mexican market with the main products being frozen pangasius fillets (HS code 030462) and a very small amount of frozen pangasius (HS code 03032400). The average export price of pangasius to the Mexican market in August 2021 reached about 1.95 USD/kg.
Meanwhile, tuna exports to Mexico in the first eight months of the year increased by 97% to $9.3 million, accounting for 2% of total tuna exports. Currently, there are only 3 companies participating in exporting tuna to the Mexican market with the main product being yellowfin tuna loin or steak with an average export price of about 7.3 USD/kg in August 2021.