Due to over-reliance on informal exports, seafood products are subjected to price manipulation.

90% of seafood production is concentrated in the Chinese market through informal export channels.

Whether seafood prices are high or low, and whether consumption is strong or weak, it is always beyond the control of fishermen. Seafood products are primarily exported through informal channels.

The lowest and highest prices for lobster can differ by as much as 1 million VND/kg at the same time. Grade 1 lobsters can sell for 1.5 million VND/kg, but grade 2 lobsters only fetch 1.2 million, and grade 3 lobsters are only 800,000 VND/kg.

It takes up to 18 months of raising them before fishermen can sell commercial lobsters. They know the purchasing method isn't ideal, but if they don't sell them, they don't know who else to sell them to.

After the lobsters are sold to specialized buyers, they are transported to warehouses, and from these warehouses, the lobsters are exported to China through unofficial channels. Both the price and the trading methods depend on these unofficial export intermediaries. The farmers never know who these intermediaries are.

Difficult farming conditions, low yields, and an unstable market are increasing concerns among fishermen. Lobster prices fluctuate constantly. This constant price fluctuation is related to the fact that 90% of the production is concentrated in the Chinese market through informal exports.

A unique characteristic of seafood like lobster is that it's sold live, meaning it's impossible to target export markets that are geographically distant. Meanwhile, domestic consumption is negligible. This is precisely why the price manipulation of lobster for export has persisted for many years.

The risks from informal seafood export markets have long been warned about, but there are virtually no solutions in place for aquaculture farming regions.

According to VOV - HV