China remains largest consumer of Vietnamese lobster

Last year witnessed lobster exports to the Chinese market reach over US$257 million, representing an 8.3-fold rise compared to 2021 thanks to China’s rising demand in the COVID-post period.

Most notably, Thanh Nhon Seafood and General Trading Co, Ltd in Ho Chi Minh City signed a contract on April 27, 2022, to officially export 2,000 tonnes of fresh lobster to Kunming City.

This was the largest contract relating to the export of lobster by a domestic enterprise via an official channel.

VASEP experts report, the country’s lobster products are mainly exported to China via unofficial channels as farmers continue to face a number of risks amid ongoing price fluctuations.

Insiders underscored the importance of strengthening linkages in terms of the production, purchasing, and export activities, along with origin traceability in a bid to further boost lobster exports to China vial official channels.

According to statistics released by China Customs, China’s lobster imports during the opening seven months of the year reached 32,358 tonnes, worth over US$962 million, up 19% in volume and up 1% in value over the same period from last year.

The largest suppliers of lobster to the Chinese market include Canada, the United States, New Zealand, Cuba, India, Brazil, and Mexico.

Vietnam ranks 14th among providers of lobster to China, duly accounting for a market share of 1%, with major products such as rock, cotton, and green lobsters.