Vietnam's lobster exports increased 18 times in January and February this year

Published Apr 1, 2024

Tridge summary

China, which was the largest buyer of Splendid Lobster from Vietnam, stopped imports in October last year due to changes in its Wildlife Protection Law, impacting exports worth nearly US$29 million. However, on January 20, Vietnam and China agreed to work through agricultural trade development cooperation to resolve trade issues concerning sturgeon and lobster. Despite the setback with China, Vietnam's lobster exports continue to other countries like Thailand, Malaysia, Singapore, and the USA. Additionally, Vietnam has seen an increase in the export volume of major seafood products such as white shrimp, tuna, tilapia, and Penaeus monodon in the first two months of the year.

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

Original content

China is the largest purchaser of this product, with exports worth nearly US$29 million, 27 times higher than in 2023. Since October last year, China has stopped importing Splendid Lobster from Vietnam due to the introduction of relevant provisions of China’s Wildlife Protection Law. On January 20 this year, relevant parties in Vietnam and China cooperated on agricultural trade development cooperation, and both parties agreed to Coordinate and resolve sturgeon and lobster trade issues under special mechanisms. In addition to China, Vietnam also exports lobsters to Thailand, Malaysia, Singapore and the United States. From January to February ...

Source: Foodmate