Mexico: Tuna loin from Vietnam well competes with that from Indonesia

(seafood.vasep.com.vn) Mexico is one of the 20 largest tuna suppliers as well as it is also one of large importers of tuna in the world. Through May 2016, Mexico imported tuna from 18 countries around the world including Vietnam.

Mexico was one of 8 main importing markets of Vietnam tuna in the last 3 years. According to statistics of Vietnam Customs, in the first 6 months of this year, Vietnam tuna exports totaled more than US$3.3 million, down 18% compared to the same period last year. That was driven by a sharp decline in the first two months of this year. Vietnam tuna exports to Mexico saw ebbs and flows.

While tuna imports into Mexico posted the rise. According to statistics of the International Trade Centre (ITC), in the first 5 months this year, Mexico bought 21,139 MT of tuna, worth by over US$45.8 million, up 4.1% in volume and 11.3% in value.

Vietnam stayed as the 6th largest tuna supplier to Mexico, behind China, the U.S, Marshal, Venezuela and Indonesia. Mexico currently increased imports of tuna from Asian countries, especially Thailand, thanks to the favorable conditions of payment method, which is simple and clear; the import volume was relatively stable with affordable prices; besides, the average shipping fee, quality requirements of the product were not too strict.

While tuna exports to the U.S and the EU face obstacles due to stricter requirements for fish catching and origins, Mexico emerged as an alternative market. Consequently, Asian countries, including Vietnam are increasing tuna exports to this market . Notably, in Jan-May this year, Thailand's exports to this market registered the 6-digit growth rate.

Vietnam tuna has to compete with the same products from Thailand and Indonesia. Vietnam mainly shipped frozen tuna loins to Mexico. Exports of the item by Asian countries to the market are subject to the tax rate of 19%. In addition to import tax, goods imported into Mexico also suffered the value added tax (VAT) of 15%. With stable average export prices, Vietnam tuna loins are highly competitive compared to similar products from Indonesia.

In the coming time, Mexico remains its high demand for tuna from Asian suppliers. Vietnam's tuna exports to Mexico are expected to rise in the near time.

TUNA IMPORTS INTO MEXICO,  JAN-MAY 2016/2015

Suppliers

Value (Thousand US$)

Volume (kg)

Jan-May 2015

Jan-May 2016

Variation  (%)

Jan-May 2015

Jan-May 2016

Variation  (%)

China

8,881

12,340

38.9

2,454,882

3,540,840

44.2

The U.S

13,247

11,698

-11.7

10,417,414

7,805,326

-25.1

Marshal

0

4,901

 

0

3,379,000

 

Venezuela

2,701

4,438

64.3

1,667,000

2,454,737

47.3

Indonesia

7,802

3,543

-54.6

2,437,594

1,179,937

-51.6

Viet Nam

2,212

2,205

-0.3

268,932

296,721

10.3

Thailand

1

1,649

164.8

124

492,552

3.971,1

Ecuador

1,668

1,522

-8.8

469,559

579,259

23.4

Panama

0

1,030

 

0

597,077

 

Others

4,629

2,477

-46.5

2,589,191

813,942

-68.6

Total

41,141

45,803

11.3

20,304,696

21,139,391

4.1

Written by Nguyen Ha                                                                                                                

Compiled by Dieu Thuy


SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

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