Indonesia: Decreasing price of baby lobster following the export ban by the central government

In the aftermath of the export ban of lobster seed in Indonesia, it has been reported that the price is down significantly to IDR 4000/Gr, down from its highest average farmgate price at IDR 11.000/Gr in 2020. The driving factor for this change is the fact that the domestic market for lobster seed is not as vast as the market overseas. Previously, lobster seed, or also known locally as baby lobster, was one of the most strategic export commodities from Indonesia, along with China and Hong Kong as the biggest market. But at the end of last year, the agreement to ban the export of lobster seed was authorized, as an effort to ensure the production sustainability of the national lobster industry.