Chinese hairy crab prices drop sharply

Each kilogram of hairy crab, a Chinese specialty, is being sold in Vietnam for 990,000 VND to 1.1 million VND, a sharp decrease from the previous price of 1.5-2 million VND.

Since October, Shanghai hairy crabs have been in season and have been imported to Vietnam in large quantities by suppliers. This is the most delicious crab in China and is a high-class dish for the rich. In previous years, they were expensive, sometimes up to 2 million VND per kilogram for grade 1 products, but now they have decreased by 20-30% compared to the same period last year.

Having just imported thousands of hairy crabs from China, Mr. Hoa - the owner of a seafood store in Tan Binh - said that this year the hairy crab production is abundant so the imported goods are at good prices.

"We sell grade 1 hairy crab for 1.1 million VND, and grade 2 is 660,000-700,000 VND per kilogram. The price is good but purchasing power is quite weak," said Mr. Hoa.

Hairy crabs at a seafood shop in Ho Chi Minh City. Photo: HS Hoang Gia — Hairy crabs at a seafood shop in Ho Chi Minh City. Photo: *HS Hoang Gia*

After nearly two months of selling only 500 kg of crab, down 40% compared to the same period last year, Ms. Oanh in Hanoi said that this year she only imported cheap grade 2 crabs for easy selling. "This batch of crabs has firm meat and lots of roe, but the number of customers ordering is slow due to economic difficulties and people tightening their spending," Ms. Oanh acknowledged.

As an official importer - Mr. Tran Van Truong, CEO of Hoang Gia seafood chain - said that the reason for the sharp decrease in Shanghai hairy crab prices is the abundant supply, imported goods from the source, and easier import procedures than previous years.

In addition, according to him, the falling USD exchange rate, combined with weak purchasing power, means that sales units must balance costs to stimulate consumer demand. "At my seafood chain, purchasing power this year has decreased by 30% compared to the same period last year," said Mr. Truong.

Currently, there are many types of hairy crabs on the market. Grade 1 products weighing 5 crabs per kilogram are sold for 1.1-1.2 million VND. Grade 2 products cost 600,000-800,000 VND, and grade 3 is 400,000-500,000 VND per kilogram. In addition, this year, in addition to natural hairy crabs, there are also farmed types, so the imported output is abundant.

According to the business community, October and November are the best months for crabs. From December onwards, the quality of crabs will decrease and the amount of roe per crab will not be as much as in the main season.

Hairy crabs are considered a Chinese specialty, bringing in billions of dollars in revenue each year. In restaurants in this country, processed hairy crabs cost up to 4-8 million VND per kilogram (300 gram each). In the past two years, hairy crabs imported to Vietnam have become increasingly popular. They are imported both through unofficial and official channels.

Thi Ha

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