Exports of lobster in the first two months rose by 18 times.

Many seafood items have shown positive growth in the past two months, including white leg shrimp up by 18%, tuna up by 21%, catfish up by 6.5%, and vannamei shrimp up by 9%. Notably, lobster exports have surged by more than 18 times compared to the same period last year.

As of the end of February 2024, lobster exports reached nearly 30 million USD, up 1,746% from the 1.6 million USD in the same period last year. Of this, green lobster exports accounted for over 90% with 27.6 million USD worth, an 80-fold increase, followed by spiny lobster reaching 2.15 million USD, a 45-fold increase from the same period.

China remains the largest importing market for Vietnam’s lobster products, with a value of nearly 29 million USD, 27 times higher than the same period last year. Since October 2023, China has suspended imports of Vietnam’s spiny lobster due to regulations related to its Wild Animal Protection Law. To export spiny lobsters to China, companies must prove that the lobsters are not directly caught from the sea, demonstrate a clear breeding process, and not use naturally harvested seeds, meaning the seeds must be F2 generation; importers must have permits…

On January 20, 2024, Deputy Minister of Agriculture and Rural Development Trần Thanh Nam led a delegation from the Ministry to work with the government of Guangdong Province (China) on agricultural development cooperation. The two parties also agreed to cooperate in resolving issues related to the import and export of sturgeon and spiny lobster under special mechanisms which should be included  in the bilateral memorandum. While awaiting the memorandum to be signed, China will consider creating a special mechanism for registered facilities to export lobster to this country.

While waiting for this special mechanism, many spiny lobster farmers have switched to farming green lobsters. The demand for green lobsters from China remains high, and farmers continue to export live lobsters to this market, while only a small portion of spiny lobsters are exported as frozen products.

In addition to China, Vietnam also exports green lobsters and spiny lobsters to Thailand, Malaysia, and Singapore.

(Source: https://vietfishmagazine.com/)