Many traders come to buy lobsters in Phu Yen Province.
Song Cau Town in Phu Yen Province, the country's largest lobster raising area, is receiving a large number of traders at this time.
According to local farmers, lobster prices have gone up to their highest level in recent years at between VND1.3-VND2.4 million (USD57-104) per kilo, which means double the price during the February-June period.
Despite high prices, local farms do not have much to sell after the recent devastating floods.
"Dozens of tonnes of lobsters died in our farms during the floods in November," a farmer said. "Now we don't have much to supply despite huge demand."
Another farmer, Vo Thi Bay, said that she raised 2,000 lobsters but over 1,000 died in the floods in November.
"Now I have some 900 lobsters to sell and thanks to the high prices I can make up the losses caused by the floods," Bay said. "I’m lucky while many farmers here lost all to the floods."
According to traders, demand for lobsters from China and some southern provinces have increased at this time.
Statistics from Song Cau Town Economics Department showed that local farms were expected to supply 760 tonnes of lobsters in 2020. However, after the floods there are now only some 25 tonnes left. The shortage has driven the prices up.