Price of commercial lobster increases by 200-300 thousand VND per kilogram

This is the end of the 2018-2019 season for commercial lobster farming. Farmers in Nhơn Hải commune of Quy Nhơn city, Bình Định province are harvesting their lobsters to sell to Phú Yên traders.

The price of commercial lobster is up by 200-300 thousand dong per kilogram from the last three months. The lobster grade A is sold at VND 1.3 million/kg, up 300 thousand dong per kilogram, while the lobster grade B is at VND 1.2 million/kg, up 200 thousand dong per kilogram.

During the harvest of 2018-2019, sixty-five farms of Nhơn Hải commune stocked 50,000 commercial lobster on 36 rafts. As many as 25 tons of lobster were harvested in the first nine months of 2019, valued at nearly VND39 billion. There are now 61 households farming 70,000 baby lobsters on 31 rafts for the crop 2019-2020.

Nguyễn Văn Nghĩa, Chairman of Nhơn Hải commune Farmers Society, said: “Farmed lobsters in our commune have been sold to traders and then exported to China through the border gate. Since China tightened its border trade, the price of commercial lobster has been in a slump. Even though the lobster grade A and grade B were sold at VND 1 million per kilogram in July, down 50% as compared to the same period last year, traders hesitated to buy. Farmers have suffered from serious loss due to high feed cost and disease outbreaks.”