Vietnamese lobster exports to China maintain strong growth momentum

According to the General Administration of Customs of China, China's imports of lobster from Vietnam increased 33 times in the first nine months of this year, reaching a total of 205.87 million US dollars, an increase of 3285% compared to last year. In September, China's lobster imports from Vietnam increased by 133.9% month on month and 2336% year-on-year.

China's lobster imports from various markets increased by 40.86%, reaching 558.24 million US dollars, while imports decreased by 23%.

Analysts believe that despite widespread hesitation in consumer spending, Chinese consumers maintain their desire for high-quality seafood. Competitive prices and nearby geographical location make Vietnamese lobster a feasible choice for Chinese consumers. The development momentum of China ASEAN relations is strong. The import price of lobsters has dropped by 23%, stimulating consumer demand. Due to Vietnam's geographical advantage, shipping costs remain at a relatively low level.

On the other hand, China is preparing to resume importing Australian lobsters. At the recent ASEAN Regional Forum held in Laos, China and Australia unanimously agreed to lift the nearly four-year ban on lobster imports by the end of this year.