According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in January, Vietnam's total seafood export value was estimated at USD 774 million, up 3 percent on-year. The rise was fuelled by higher Chinese demand for seafood products like lobster, crab, clams, and snails for the Lunar New Year holiday.
Vietnam earned VND1.8 trillion (USD70 million) from exporting lobsters to China in January this year,
That month, lobster exports to China alone comprised nearly half of Vietnam's total seafood shipments. Meanwhile, crab exports skyrocketed eighteenfold, reaching USD18.5 million.
China's strong demand fueled a 24 percent growth in Vietnam's shrimp export value in January.
Last year, China spent USD843 million on importing lobsters from Vietnam, up 39 per cent on-year.
China is the largest importer of Vietnamese lobster, making up 98-99 percent of total exports. VASEP predicts that in 2025, Chinese demand for shrimp will remain robust, though prices may decline.
