Vietnam imported seafood prices increase sharply

Published Aug 6, 2021

Tridge summary

Vietnam is experiencing a significant increase in the cost of seafood imports, with prices soaring by nearly 50% for King Crab and 30% for abalone. The rise in prices is attributed to limited flight availability and high freight rates, leading to transport difficulties and heavy losses for importers. As a result, many are ceasing imports and seafood shops are struggling. In response, shops are diversifying their offerings by selling more domestic seafood and regional specialties to offer customers more affordable options. High-end seafood supermarkets are also introducing a variety of domestic products at affordable prices to provide customers with more choices.

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

Original content

For more than a month now, many seafood imports to Vietnam have increased sharply. Specifically, King Crab king crab in the same period last year was only 1.6-1.9 million dong per kilogram, now up to 2.5-2.9 million dong per kilogram, an increase of nearly 50%. Ausrtralia abalone, Korean abalone also increased by 30% to 1.6-1.8 million VND per kg. Previously, salmon was 550,000 VND, now it is 650,000 VND per kg. Mr. Hoang, the owner of a seafood shop on Vuon Lai, Tan Binh district, said that in recent days, foreign seafood is almost in short supply. According to Mr. Hoang, his shop currently has many high-class patrons asking to buy imported goods, but he does not have to respond because Ho Chi Minh City is far away, so it is difficult to transport. Meanwhile, importers also said that flights to Vietnam are limited and freight rates are high, making it difficult to deliver goods. Also stopping selling imported seafood, Mr. Long, a shop owner on Xo Viet Nghe Tinh Street (Binh ...

Source: VNExpress