Vietnam’s tra fish, also known as pangasius, exports to the Mexican market suffered a drop of 57.8% to US$28.5 million by mid-September in comparison to the same period from last year, according to data compiled by the Vietnam Association of Seafood Exporters and Producers (VASEP).

Pangasius exports to major markets including Mexico suffer decline due to
the adverse impact of COVID-19

The average export price of frozen pangasius fillets to the North American market throughout the opening eight months of the year ranges from US$1.75 to US$2 per kilo.

At present, more than 25 local businesses have exported tra fish to the Mexican market, with some of the major export items including frozen pangasius fillets and cuts of frozen pangasius slices.

According to statistics released by the International Trade Centre, Mexico’s total import volume of white fish products fell by roughly 35% to 86,000 tonnes last year, with tilapia products from the Chinese market accounting for the highest proportion, followed by Vietnamese tra fish.

Most notably, the import value of tilapia from China and tra fish from Vietnam recorded decreases of over 24% and 40%, respectively, compared to the previous year’s figures.

Furthermore, among the 11 countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Canada, Mexico, and Peru are among the first three markets that the country has signed a free trade agreement (FTA) with.

The move has served to open up bright prospects for local fisheries exports to these markets, largely because frozen pangasius fillets now enjoy preferential tariff cuts, from their previous figure of 20% to the current tax rate of 0% in line with the tariff reduction roadmap.

As a result of the adverse impact of the novel coronavirus (COVID-19) epidemic globally, pangasius exports to many major markets, including Mexico, are projected to suffer a decline of 50% this year when compared to 2019’s figures.