Large lobster prices drop, farmers in Vietnam suffer heavy losses

Published 2024년 11월 1일

Tridge summary

Shrimp and lobster farmers in the Cam Ranh and Song Cau areas of Vietnam are facing challenges due to a decrease in demand and price of large-sized products, while small products are selling at higher prices. This has led to significant financial losses for the farmers. The price fluctuations are largely due to changes in the Chinese market. Additionally, the farmers are also struggling with increasing input costs. In response, export companies are looking to diversify their export markets, and the Song Cau Lobster General Service Cooperative is planning to export green lobsters to Japan and South Korea. It is hoped that the domestic market will see an increase in purchasing power during the Lunar New Year, helping to alleviate the current difficulties.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Mr. Hung, a long-time shrimp farmer in Cam Binh (Cam Ranh, Khanh Hoa), said that large-sized products have never been as difficult to sell and have fallen in price as they are now. In previous years, the type weighing 0.4 kg or more was always sought after by traders because it was a selected product (grade 1) with firm, sweet meat, suitable for export and distribution to high-end seafood stores. However, traders now only buy this type in small quantities at low prices. Currently, large green lobsters weighing over 0.4 kg each cost from 680,000 to 700,000 VND per kg (previously 1.2 to 1.4 million VND), while small lobsters (0.2 to 0.3 kg each) cost more, ranging from 750,000 to 800,000 VND. This is a paradox that farmers cannot explain. Mr. Tuan, a household with 50 lobster cages in the neighboring area, said that with the current low price, his family has lost about 700 million VND. Not only in Cam Ranh, the same situation is also happening in Song Cau (Phu Yen). Farmers here ...

Source: VNExpress