The US increasing seafood exports to Vietnam

Due to the US-China trade war, lobster exports from the US to China decreased, which decreased the price of US lobsters. Meanwhile, Vietnamese significantly increased its lobster imports from the US to take advantage of the lowered price. US lobster prices are at a low level: live lobster of type 1 - 3 kg' wholesale price is only 32.11 USD / kg, which is 6.42 USD / kg lower than the normal price. Besides decrease in lobster imports from China, the Covid-19 is also putting downward pressure on lobster. Lobsters are considered premium foods, and due to the uncertain global economic situation, few consumers are going to restaurants to eat lobsters. As a result, the US will continue to export more and more lobsters and other types of seafood products to Vietnam.