Vietnam: Chinese traders only buy small lobsters, fishermen in Khanh Hoa and Phu Yen are in a bind

Chinese traders in Cam Ranh, Khanh Hoa are only purchasing small lobsters under 0.3kg, leading to a surplus of larger lobsters and difficulty in consumption. The Chinese market stopped importing lobsters in 2023 due to wildlife protection law amendments. The Economic Department of Van Ninh district has recommended that fishermen monitor market developments and choose suitable farming objects to avoid losses. The price of lobsters has dropped and larger lobsters are sold at a loss or kept in cages waiting for prices to increase.

Speaking to reporters, Mr. Binh (a lobster business owner in Cam Ranh, Khanh Hoa) confirmed that for the past few months, Chinese traders have only purchased small (green) lobsters under 0.3kg, with larger sized lobsters still being purchased but consumption has been very slow. The leader of this business added that traders buy lobsters depending on the type, if the type is about 0.3kg or less, they buy for about 800,000 - 850,000 VND/kg, and if the lobster is 0.3kg or more, the purchase price fluctuates from 600,000 - 650,000 VND/kg. Mr. Binh said that this situation also existed before, but consumption was good so people were able to sell their products, but now the selling price is not good, fishermen keep a lot of them so the amount of large lobsters of people is increasing, leading to difficulty in consumption. In Khanh Hoa province, lobster farmers are mainly in Binh Ba island, Cam Binh commune, Cam Lap commune (Cam Ranh city) and Van Phong bay, Van Ninh district (Khanh ...