Lobster exports skyrocket in first half

Besides, surging global demand has caused the prices of some lobster species to double.

Tropical rock lobster has risen to VND1.7 million ($73) a kilogram and scalloped spiny lobster to VND1.4 million.

Exports of shrimp products also rose in the first half, with shipments of processed whiteleg shrimp going up by 17 percent and those of black tiger shrimp by 20 percent.

They fetched $2.3 billion, up 33 percent from last year. Shrimps account for 40 percent of Vietnam’s seafood exports.

Shrimp exports to China, where production is affected by Covid restrictions, doubled to $275 million in the first five months.

VASEP said Vietnam’s shrimp exporters face challenges like supply shortage and inflation but are coping by expanding farming areas and focusing on more demanding markets.