By Ta Ha - VASEP
Thursday, October 10, 2019, 12:30 (GMT+7)
English version: Silvera Food
Recorded for the first half of 2019, the total value of Pangasius export to Mexico reached 67.60 million USD with an increase of 6% compared to the same period last year. For the first 9 months of 2019, only during the first quarter, did the Pangasius export show a positive raise to this market. Yet, from April to September, 2019, the export value to the Mexican market was unstable and has been such a huge decrease compared to the same period in 2018.
There have been approximately 20 companies exporting Pangasius to Mexico, most of which are located in Dong Thap Province, Ho Chi Minh City, Can Tho City and Ben Tre Province. 100% of the Pangasius products shipped to Mexico are frozen fillets and steaks under the HS code 030462.
Three years ago, the growth of the volume of Pangasius export to Mexico was quite positive. The market was considered as a hugely potential market for Pangasius companies in Vietnam. However, for the recent two years, the export of Pangasius to Mexico fell short of expectations with an average export price between 1.25 and 3.15 USD/ kg, which is much lower than the export price to other large markets.
Vietnamese Pangasius Fillets Or Also Called Basa De Filete In Spanish. Credit: Silvera Food
According to the latest statistics from International Trade Centre (ITC), in 2018, frozen Pangasius fillets (HS code 030462) and frozen Tilapia fillets (HS code 030461) were two products with the largest import value among the total imports of white fish of Mexico. However, Chinese frozen Tilapia fillets accounted for more than 60% of the total white fish imports in this market.
In recent years, in addition to importing Tilapia from China, Mexico has been increasingly developing their Tilapia farming. The Mexican farming output is estimated to make up around 25% of the total output in Latin America. The prolongation of the trade war between the US and China also favorably enables Mexico to export more white fish to the US. Nevertheless, the import of white fish to Mexico has been stable so far without any dramatic raise from Asian supplies.
It is predicted that from now till the end of the year, the export value of Pangasius to Mexico is likely to remain the same as in the two middle quarters of the year with the export price kept at a low level without any improvement towards the year-end time.