Vietnam lobster exports surge by 135%, China becomes the largest driving force but risks loom.

China market drives miraculous growth The Chinese and Hong Kong markets are the absolute engines for Vietnam's lobster exports. In the first ten months of this year, export value reached 702 million USD, a year-on-year increase of 135%, almost capturing the entire market share. In comparison, Canada and the United States' lobster exports lost competitiveness due to tariffs of 32% and 17%, respectively, with export volumes plummeting by 39% and 10%. Meanwhile, Vietnam, with its advantages of zero retaliatory tariffs, proximity, and abundant supply of green lobsters, has become the preferred supplier for China's catering and e-commerce platforms. Price pressure and competition risks coexist Although export value has soared, Vietnamese lobster farmers are not "carefree." After the Spring Festival, oversupply and Australia's return to the Chinese market led to a sharp drop in procurement prices. At the same time, low-priced green lobsters from the Philippines, Indonesia, Malaysia, and ...