Lobster exports to China increased by 9 times
Thursday, February 27,2025
AsemconnectVietnam - Vietnamese lobster exports to China in January of 2025 reached 70 million USD, accounting for nearly half of total seafood exports to China and 9 times higher than the same period of 2024.
According to the Vietnam Association of Seafood Exporters and Producers, Vietnam's shrimp exports increased by 28% in the beginning of 2025, reaching 311 million USD.
The increase in exports was mainly due to increased demand from the Chinese market for the Lunar New Year. In particular, fresh products such as lobster are of interest to Chinese businesses for the high-end consumption segment.
Lobster exports to China alone reached 70 million USD, accounting for nearly half of total seafood exports to China and 9 times higher than the same period of 2024. Total shrimp exports to China and Hong Kong in January of this year reached 118 million USD, up by 179% over the same period last year.
Thanks to increased lobster exports to China, the total shrimp exports increased sharply by 28%.
However, exports of popular products such as white-leg shrimp and tiger shrimp to China next month may slow down due to competition with domestic seafood products when the market share in the US is affected. However, the room for high-end products such as lobster is still open for Vietnamese enterprises.
In January of 2025, shrimp exports to the EU market also recorded positive growth, increasing by 15%, reaching more than 34 million USD. Some smaller markets also recorded positive growth such as the UK and Switzerland.
Shrimp exports to the US in January of this year decreased by 13% to 36 million USD. Shrimp exports to the US market still face risks from decisions on anti-subsidy and anti-dumping taxes.
Moreover, President Trump has just taken office, so it is not possible to predict his new tariff policies for other countries.
During this waiting period, US exporters and importers will take advantage of this opportunity to promote trade. Therefore, in the next few months, exports to the US may increase sharply. There may also be consequences that businesses need to consider, such as increased transportation and logistics costs due to the influx of exports to the US.
Although January of 2025 recorded impressive shrimp export growth, the Vietnamese shrimp industry is facing many challenges, especially the risk of raw material shortages due to disease and unfavorable weather conditions, and uncertainties from the US market.
Shrimp exports in February may find it difficult to maintain growth if the raw material issue is not resolved.
To achieve the export target in 2025, there needs to be effective and practical support policies for businesses such as creating conditions for capital, resolving inadequacies related to compliance costs and administrative procedures.
There needs to be a credit support policy for shrimp farmers through chain linkage; consider including shrimp feed in price-controlled items...; have measures to stabilize input costs for production, strengthen control of seed quality; promote farming area codes for traceability; have investment policies, encourage farming other than white-leg shrimp and need to maintain the strength of black tiger shrimp farming.
To limit the passiveness from the US market, exporting enterprises need to promote market diversification such as expanding exports to the EU, Japan, ASEAN...; focus on the high-end processed shrimp segment to create added value and always focus on improving product quality.
CK
Source: VITIC/congthuong.vn
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