Vietnam’s imports of high-value seafood such as king crabs and lobsters are rising due to their falling prices, and are expected to rise even further during the Lunar New Year (Tet) Festival, experts have said.
Demand for high class seafood is expected to rise further during Tet. (Photo: nld.com.vn)
HCMCity (VNS/VNA) - Vietnam’s imports of high-value seafood such asking crabs and lobsters are rising due to their falling prices, and are expectedto rise even further during the Lunar New Year (Tet) Festival, experts havesaid.
RobertGreenan, Deputy Consul General at the US Consulate in Ho Chi Minh City, saidlast year exports of Alaskan seafood rose 125 percent to 19 million USD.
Vietnambecame the US’s sixth largest buyer of agricultural products and foodstuffswith imports worth 4 billion USD.
Accordingto the Alaska Seafood Marketing Institute in Vietnam, demand for seafood isrising in the country, and several processing factories are moving from Chinato Vietnam due to tariffs.
Alaskanseafood is mostly bought by restaurants and hotels and processors. Theinstitute aims to expand the distribution network so that more customers canbuy Alaskan seafood for cooking at home.
DuringTet, there is especially high demand for Alaskan king crab since it isrelatively easy to cook and suitable for special occasions, according toseafood provider The Alaska Guys Vietnam. Cod fillet is also popular due to itsaroma and boneless meat, making it suitable for making porridge for childrenand seniors.
Canadais also a large supplier of luxury seafood to Vietnam with zero tariffs underthe Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP). In 2020, Vietnam imported over 78.5 million USD worth of seafood fromCanada, 10 percent more than in 2019.
TranVan Truong, Director of Royal Seafood Co. Ltd, said free trade agreements hadreduced the prices of these products, enabling his firm to open more stores in2020.
Demandfor seafood during Tet was expected to be three times higher than normal, andso his company was increasing imports.
Onlinebusinesses are also profiting from the falling prices of luxury seafood, andare offering free shipping or pre-processing the seafood to provide moreconvenience to customers./.
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Demand for high class seafood is expected to rise further during Tet. (Photo: nld.com.vn) 
