Imported seafood prices skyrocket amid transport restrictions
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The prices of imported king crabs and abalones have risen by 30-50 percent in HCMC due to limited supply caused by mobility restrictions.
King crabs are sold at VND2.5-2.9 million ($109-126) per kilogram, 50 percent higher year-on-year.
Australian and South Korean abalones are sold at 30 percent higher at VND1.6-1.8 million.
Salmon prices are up 18 percent at VND650,000.
A seafood importer who owns a restaurant in the city’s Tan Binh District blamed the price rise on a supply shortage, saying the semi-lockdown has made transporting seafood difficult.
Another reason is the limited number of flights coming to Vietnam from abroad.
Another importer said half the crabs died on the way to Vietnam due to flight delays, causing him losses. He has stopped selling for now.
Tran Van Truong, CEO of seafood chain Hoang Gia, said flights from Norway to HCMC are rare and in most cases have to transit in other countries.
Many sellers are increasing the sale of domestic seafood items such as red tilapia and squid to survive.
Questions & Answers
Q.Which specific seafood items have seen the most significant price increases in HCMC?
Which specific seafood items have seen the most significant price increases in HCMC?
King crabs have increased by 50 percent year-on-year, now selling at VND2.5-2.9 million per kilogram. Australian and South Korean abalones are also 30 percent higher, priced at VND1.6-1.8 million.
Q.What are the primary reasons cited for the rising imported seafood prices?
What are the primary reasons cited for the rising imported seafood prices?
The main causes are a limited supply due to mobility restrictions and semi-lockdown making transport difficult. Also, a limited number of international flights to Vietnam has impacted availability.
Q.How are seafood sellers adapting their business in response to the challenges with imported products?
How are seafood sellers adapting their business in response to the challenges with imported products?
Many sellers are increasing their sales of domestic seafood items, such as red tilapia and squid, to continue operating their businesses and manage the current supply difficulties.
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