Canadian Lobster Imports Surge in Vietnam on Price Advantage

KEY TAKEAWAYS

·Vietnam imported roughly $34 million in seafood from Canada in the first seven months of 2026, a 42% year-on-year increase, with lobsters comprising 60-65% of the total value.
·Canadian lobster now sells for VND950,000 to VND1.1 million per kilogram in Ho Chi Minh City, about one-third the price of Australian lobster and below some domestic varieties.
·CPTPP-compliant Canadian lobster enters Vietnam duty-free, and peak July-September harvest timing plus high transport survival rates strengthen its competitive position.

Price Gap Reshapes Market

Ho Chi Minh City seafood retailers are moving Canadian lobster at VND950,000 to VND1.1 million per kilogram for specimens in the 500-600 gram range, roughly $36 to $42. Larger individuals weighing one kilogram or more fetch VND1.3 million to VND1.4 million. Those figures sit 5-10% below year-ago levels and represent a fraction of what Australian lobster commands in the same market.

Australian lobster currently trades at VND3.5 million per kilogram in the city. Vietnamese spiny lobster reaches nearly VND3 million, while domestic rock lobster hovers around VND1.5 million. The spread has reordered buying patterns among both household shoppers and commercial buyers.

Vietnam imported approximately $34 million in seafood from Canada during the first seven months of this year, according to Vietnam Customs. That figure marks a 42% increase over the corresponding period in 2025. Lobster accounted for 60-65% of the total value.

Distribution Expands Beyond Wholesale

A Ho Chi Minh City importer who goes by the name Hong reported bringing in several hundred kilograms of Canadian lobster each month. His volume for the Canadian product runs 30% higher than other varieties, and inventory turns over faster.

"Only a few wholesalers used to import the product," Hong noted. The number of businesses handling and distributing Canadian lobster has since grown, and the product now appears in supermarkets, online platforms, and combination seafood platters at restaurants.

Tran Van Truong, chief executive of seafood chain Hai San Hoang Gia, said his company's Canadian lobster imports climbed by double digits year-on-year in the January-July window. He attributed the shift to peak season timing, which runs from July through September, and to the species' resilience during transport and storage, which keeps spoilage losses low.

Tariff Structure and Supply Dynamics

Canadian lobster that meets Comprehensive and Progressive Agreement for Trans-Pacific Partnership standards enters Vietnam duty-free. Australian and Vietnamese varieties face different tariff treatment, widening the landed-cost gap.

Canada shipped 79,380 metric tons of lobster worth $3.01 billion in 2025, the highest value among all Canadian fisheries exports, according to Fisheries and Oceans Canada. The country holds the largest share of global lobster exports.

Tran Van Truong acknowledged that Canadian lobster does not match the quality profile of Vietnamese varieties but said supply consistency gives it a competitive edge. Seasonal abundance in the North Atlantic coincides with leaner availability from Australian fisheries, and the hardiness of the Canadian species reduces logistical risk.

Consumer Behavior Shifts

Hoa, a frequent seafood buyer in Ho Chi Minh City, said she now purchases Canadian lobster exclusively. She cited lower cost, live delivery, and firm texture as decision factors. The price point has enabled restaurants to bundle lobster with crab, shrimp, and shellfish in group-sized platters, bringing the product within reach of family dining budgets that previously excluded it.

The import surge reflects a broader pattern in Vietnam's seafood trade, where tariff schedules and supply-chain efficiency increasingly determine shelf pricing. Canadian exporters have capitalized on both, securing a foothold in a market that has historically favored regional suppliers and premium domestic catches.

As the July-September season continues, retailers expect inventory levels to remain robust and pricing stable. The tariff advantage under CPTPP is structural, and Canadian harvest volumes show no sign of tightening. For Vietnamese consumers, that translates to sustained access to a protein that was until recently a luxury purchase.

Asia's overnight moves, distilled into a five-minute read.

Price Gap Reshapes Market

Distribution Expands Beyond Wholesale

Tariff Structure and Supply Dynamics

Consumer Behavior Shifts

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