These figures highlight how Mexico has become the country’s third largest consumer, behind China and the United States, accounting for 4.5% of total export turnover of Vietnamese pangasius.

Throughout the reviewed period, the export turnover of frozen pangasius fillet to the North American nation reached US$69 million, accounting for 94% of the total value, while sliced pangasius products grossed US$4.4 million, making up 6% of the figure.

The average export price of frozen pangasius fillets in the first half of this year stood at US$2.8 per kilo, 63.5% higher than the figure recorded in the same period last year.

The VASEP forecasts that pangasius exports to Mexico are likely to reach US$125 million by the end of the year, representing an increase of 80% compared to 2021.

To meet the target, experts advised local enterprises to pay close attention to market demand, determine the competitive advantages, and utilise incentives for products which bring about high added value.

They also emphasised the necessity of gaining more insights into taxes and customs procedures, especially non-tariff regulations such as Sanitary and Phytosanitary Measures (SPS) and technical barriers to trade (TBT), as well as incentives from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in an effort to make further inroads into the market.

Source: VOV