Vietnam's lobster exports increased more than 18 times
Frozen Rock Lobster
Seafood
Vietnam
Market & Price Trends
Published Mar 20, 2024
Tridge summary
Vietnam has seen a significant surge in lobster exports, particularly blue and spiny lobsters, with earnings reaching nearly $30 million in the first two months of 2023, an 18-fold increase from the same period in the previous year. China is the largest consumer of this seafood, followed by Thailand, Malaysia, and Singapore. The rise in exports is attributed to a shift in many households towards raising green lobsters for sale to China, following China's ban on importing Vietnamese lobsters due to new wildlife protection laws. To continue exporting to China, businesses are required to demonstrate that the shrimp seeds are not directly caught from the sea and are of the F2 generation.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The two main types of lobster exported by Vietnam are blue lobster and spiny lobster. According to VASEP data, as of the end of February, the export turnover of these two types both skyrocketed. Of which, blue lobster exported 27.6 million USD, while flower lobster exported nearly 2.2 million USD. These levels increased 80 and 45 times respectively compared to the same period last year. Overall, in the first two months of the year, lobster exports reached nearly 30 million USD, 18 times higher than the 1.6 million USD at the same time in 2023. China is still the largest consumer market for this type of seafood, nearly 29 million USD, 27 times higher than the same period in 2023. Other markets such as Thailand, Malaysia, and Singapore also prefer blue lobster from Vietnam. Lobster exports increased after many households switched to raising green lobsters to sell to China - where they stopped importing Vietnamese lobsters since the end of last year. "Demand for blue lobster from ...
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