China spends nearly $700 million to buy Vietnamese shrimp.

According to shrimp export businesses, in the first days of December, demand for lobster from the Chinese market continued to increase, causing domestic lobster prices to rise slightly compared to the previous week. Currently, green lobsters weighing 150-300 grams are priced at around 1 million VND/kg, those weighing 300-400 grams at 850,000 VND/kg, and those weighing 400-600 grams at 800,000 VND/kg. Compared to the same period last year, lobster prices have increased by about 150,000-200,000 VND/kg, depending on the type.

Vietnam's lobster exports to China have increased sharply. PHOTO: ANH THU

"The bigger the lobster, the cheaper the price, because the Chinese market prefers smaller sizes. These products are often served in seafood restaurants and buffets, a rapidly growing industry in China," said the leader of a large lobster export company in Da Nang City.

Currently, China still prohibits the import of spiny lobsters and only allows the import of green lobsters. Therefore, spiny lobsters are currently only consumed domestically and in some neighboring countries in insignificant quantities.

The Chinese market is preparing for the year-end peak consumption season, leading to a surge in import demand. Lobster is particularly popular among Chinese consumers due to its appearance and color, which are considered auspicious for holidays and festivals. Furthermore, the economic recovery is encouraging increased spending. Besides lobster, the demand for imported shrimp from the Chinese market has also increased significantly.

According to the Vietnam Association of Seafood Processing and Export (VASEP), Vietnam's lobster exports to China in the past 10 months reached US$298 million, an increase of US$157 million compared to the same period last year. This is also the fastest-growing shrimp product in the Chinese market. Total Vietnamese shrimp exports to China in the past 10 months reached US$676 million, a 31% increase compared to the same period last year. "China's consumer promotion policies have contributed to the recent rebound in import and consumption demand," according to VASEP.

Source: https://thanhnien.vn/trung-quoc-bo-gan-700-trieu-do-an-tom-viet-nam-185241204105004468.htm