HANOI: Chinese consumers spent some US$70 million on Vietnamese lobster in January, marking a nine-fold increase against the same time last year.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's total aquatic exports in the month reached US$774 million, up three per cent year-on-year.
This increase was primarily driven by strong Chinese demand for premium fresh seafood products, including lobster, crab, clams, and snails, as consumers prepared for Lunar New Year celebrations, Vietnam news agency (VNA) reported.
The lobster exports to China alone accounted for nearly half of Vietnam's total seafood exports to the country. Additionally, crab exports witnessed an eighteen-fold surge, reaching US$18.5 million.
This robust demand from China helped boost Vietnam's overall shrimp exports by 24 per cent, contributing significantly to the sector's growth.
Last year, Vietnam shipped US$843 million worth of shrimp to China, a year-on-year rise of 39 per cent. China surpassed the US as Vietnam’s largest shrimp export market, it reported.
VASEP said Vietnamese lobster, targeting high-income consumers, has maintained steady demand despite China's economic slowdown and reduced consumer spending.
The resilience in the premium seafood segment offers Vietnamese businesses an opportunity to capitalise on the consumption patterns to maintain the industry's growth momentum throughout the year, according to VNA. - Bernama/VNA
