Sharply declining lobster prices in Vietnam

The observation shows that the domestic price of seafood products experienced a downward trend, especially lobster, in the first three months of 2020 due to the COVID-19 pandemic. In addition, the pandemic has led to closures of every restaurant and hotel in Vietnam, leading to a sharp decline in demand for high-end products such as lobster. The price of the baby lobsters that weigh between 400~500 grams was only USD 2.8 per kg, and the figure for the smaller ones decreased remarkably to USD 1.6 per kg.