Canadian Lobsters Capture Vietnam Market Share on Price Advantage
Vietnamese consumers increasingly choose Canadian lobsters, which cost a third of Australian varieties. This shift follows zero tariffs under the CPTPP and efficient supply chains.
Price Drives Consumer Shift
Vietnamese consumers are increasingly purchasing Canadian lobsters. Their lower price point drives this market shift. Canadian lobsters cost around one-third of Australian varieties, and even less than some domestic options. This affordability has made them a popular choice among local seafood buyers.
Vietnam's seafood imports from Canada climbed 42% year-on-year in the first seven months of this year. These imports reached $34 million, Vietnam Customs reported. Lobsters comprised 60–65% of this total value, demonstrating their growing market presence.
Significant Price Disparity
A kilogram of Canadian lobster, weighing 500–600 grams, sells for VND950,000–VND1.1 million (US$36–42) in Ho Chi Minh City. Larger ones, over one kilogram, retail for VND1.3–1.4 million. These prices are 5–10% lower than last year. Australian lobsters, by comparison, cost VND3.5 million per kilogram.
Vietnamese spiny lobsters approach VND3 million, and domestic rock lobsters are around VND1.5 million. This price disparity makes Canadian options significantly more accessible to a broader consumer base.
Tariff Advantage and Supply Resilience
Several factors contribute to Canadian lobsters' affordability and availability. Canadian lobsters imported into Vietnam face a 0% tariff, adhering to Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) requirements. Their peak season runs from July to September, ensuring abundant supply.
Additionally, these lobsters are hardy, demonstrating high survival rates during transportation and storage. This minimises losses, Tran Van Truong, CEO of Hai San Hoang Gia, noted. Canada exported 79,380 tons of lobsters worth $3.01 billion in 2025, making it the world's largest exporter, Fisheries and Oceans Canada data shows.
The rising demand for Canadian lobsters reveals the direct impact of trade agreements on consumer markets. Zero tariffs under CPTPP allow importers to offer competitive pricing. This drives a significant shift in consumer preferences towards more affordable premium products.
For businesses, this highlights the advantage of securing efficient supply chains and leveraging trade pacts. It also pressures higher-priced domestic and imported alternatives to adjust strategies in Vietnam's growing seafood market, potentially leading to increased competition and innovation.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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