Việt Nam's lobster exports record strong growth in two months

Frozen Rock Lobster

Seafood

China

Vietnam

Market & Price Trends

Published Mar 23, 2024

Tridge summary

Vietnam has experienced a significant increase in lobster exports in the first two months of this year, with an 18-fold rise to nearly $30 million, primarily driven by scalloped spiny lobster exports. Despite new regulations, China continues to be the largest market for Vietnamese lobsters. To comply with these regulations, many Vietnamese farmers have shifted to farming scalloped spiny lobsters. Other export destinations include Thailand, Malaysia, Singapore, and the US, where crayfish are particularly popular.

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

Việt Nam gained a record in lobster exports in the first two months of this year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP). The lobster exports in the first two months surged by 18 times year on year to reach nearly US$30 million. Of which, scalloped spiny lobster exports accounted for more than 90 per cent with a value of $27.6 million, an increase of 80 times in value, followed by tropical rock lobster with a value of $2.15 million, an increase of 45 times over the same period. China was still the largest export market for Vietnamese lobsters, with a value of nearly $29 million, 27 times higher than the same period last year. From October 2023, China stopped importing Việt Nam's tropical rock lobsters because of regulations related to the country's amended Wildlife Protection Law. Under the new Wildlife Protection Law, China requires clear proof of the farming process for rock lobsters. It does not accept lobsters raised from post larva ...

Source: WTOCenter