Vietnam's lobster exports to China increase 27 times

Frozen Rock Lobster
Market & Price Trends
Published Mar 21, 2024

Tridge summary

Vietnam has seen a significant increase in lobster exports in the first two months of 2024, with a 1,746% surge to nearly US$30 million, primarily to the Chinese market. This comes after a halt in exports to China in October 2023 due to wildlife protection regulations. However, an agreement between Vietnamese and Chinese officials in January 2024 allowed for the resumption of lobster exports. Vietnam also exports lobsters to other Asian countries and crayfish to the United States.
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

In the first two months of this year, lobster exports reached nearly US$30 million, up 1,746% from the same period in 2023, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Vietnamese lobster is still mainly exported to the Chinese market. In the first two months of the year, lobster exports to this market reached almost US$29 million, 27 times higher than the same period last year. As of October 2023, China stopped importing lobsters from Vietnam due to regulations related to the country's Wildlife Protection Law. In order to export lobsters to China, Vietnamese enterprises must prove that the lobsters are not caught directly from the sea, that is, the breeds must be of the F2 generation, which clearly demonstrates the farming process. In order for Vietnamese businesses to once again be able to export lobsters to China, on January 20, 2024, as part of a working meeting between the delegation of the Ministry of Agriculture and Rural Development led ...
Source: Fishretail
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