Vietnam’s Crab exports skyrocket by 41%

[ASEAN NOW News]

A crab at a farm in southern Ca Mau Province. Photo by VnExpress/Chi Lam

 

Vietnam crab exports rose 41% to $111 million between Jan. 1 and July 15 this year, according to data from the Vietnam Association of Seafood Exporters and Producers (VASEP).

 

According to VN Express the U.S, China, Japan and France were the four major markets accounting for 92% of the value.

 

China was the fastest growing market as exports surged 74% year-on-year to $37 million, followed by France (up 60%) and Japan (51%).

 

Exports to the U.S. grew 27%, though the country was Vietnam’s top market with a value of $38 million.

Crab prices have surged amid domestic shortage and rising demand from major markets in the U.S., China and Japan.

 

Hoang, a crab seller, said prices at the farm have risen 20% since last month to VND400,000-600,000 ($17-26) a kilogram but there was hardly enough for him to sell.

 

A VnExpress survey showed crab prices in HCMC have risen to the highest in the year-to-date at VND900,000 a kilogram.

 

VASEP expects crab exports to thrive in the second half this year thanks to rising demand driven by holidays like Christmas and Lunar New Year.