KOSDAQ-listed NH Nongwoo Bio said on the 22nd that it will establish a local subsidiary in Mexico next year to step up its push into the Latin American market. The Mexico subsidiary will be NH Nongwoo Bio's eighth overseas unit.
NH Nongwoo Bio noted that Mexico's vegetable seed market is composed of key crops such as tomatoes (25%), peppers (20%), leafy vegetables (20%), and cucumbers and squash (15%), which align with NH Nongwoo Bio's flagship items, providing a favorable environment for market entry and expansion.
It also emphasized that, as global supply chain uncertainty grows amid stronger U.S. protectionism and the imposition of high tariffs by country of origin, Mexico is the optimal region for NH Nongwoo Bio to secure price competitiveness and respond to the market in a stable manner.
NH Nongwoo Bio has secured a 30% share in Mexico's processed jalapeño pepper market and plans to build a stable, locally based sales system through the establishment of the subsidiary. The goal is to expand its product portfolio centered on key Latin American crops such as tomatoes, cucumbers, and watermelons.
Read more at Chosun-Biz
