Vietnam's Canadian seafood imports soar: Premium products, pricing

Growth in Canadian Seafood Imports

Vietnam has experienced a notable increase in seafood imports from Canada, with figures showing a rise of nearly 40% over the past two years. According to data from Vietnam Customs, the value of these imports reached $61 million in 2025, up from $49 million in 2024 and $44 million in 2023.

This upward trajectory continued into the current year, with imports totalling $43.2 million during the first eight months of 2026, marking a 28.2% increase compared to the corresponding period last year. This expansion is primarily driven by growing demand for Canadian lobster, snow crab, and oysters within the Vietnamese market.

Competitive Pricing and Quality

The appeal of Canadian seafood in Vietnam is largely attributed to its competitive pricing and consistent quality, as noted by a manager at a seafood retailer in Ho Chi Minh City. For instance, Canadian lobsters weighing 500–600 grams are sold for approximately VND950,000–1.1 million (US$37–38) per kilogram, while those exceeding one kilogram cost around VND1.3–1.4 million.

This pricing is considerably lower than Australian lobster, which retails at about VND3.5 million per kilogram, and domestic green lobster, priced at roughly VND1.5 million. Similarly, live Canadian snow crab is available for approximately VND1.4–1.5 million per kilogram, which is about 30% less than some other imported crab varieties.

Canadian oysters, priced at over VND400,000 per kilogram, also present a more economical option compared to certain French varieties that can reach up to VND1 million.

Tran Van Truong, CEO of seafood chain Hai San Hoang Gia, highlighted that stable and competitive pricing, combined with preferential tariffs, has broadened the accessibility of Canadian seafood to a wider consumer base.

Nova Scotia's Export Strategy

The increased demand in Vietnam aligns with the export diversification efforts of Canadian seafood businesses, particularly those in Nova Scotia, Canada's leading seafood-exporting province. Lobster constitutes Nova Scotia’s primary seafood product, accounting for over half of its total export value in 2025.

With live lobster exports experiencing a 19% decline, Nova Scotia is actively exploring new markets, including Vietnam. Jason Hollett, Nova Scotia’s deputy minister of agriculture and deputy minister of fisheries and aquaculture, stated during a trade delegation to Vietnam in September 2026 that Vietnam currently represents the province's seventh-largest seafood export market.

Nova Scotia's premium seafood products contribute 29% to Canada's total worldwide seafood export value. In 2025, snow crab was Nova Scotia’s largest seafood export to Vietnam by volume, with exports valued at approximately CAD35 million (US$25.3 million), while lobster exports to Vietnam were worth about CAD8 million (US$5.8 million).

Implications for Vietnam's Seafood Market

The sustained growth in Canadian seafood imports into Vietnam, driven by competitive pricing and favourable trade policies under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), suggests a significant shift in consumer preferences towards value-driven premium imports.

This trend indicates an expanding segment of Vietnamese consumers willing to pay for high-quality imported seafood when it offers a clear price advantage over domestic or other international alternatives.

For domestic aquaculture and seafood suppliers in Vietnam, this could necessitate a strategic re-evaluation of pricing structures, product differentiation, or a focus on niche markets to maintain competitiveness.

Furthermore, other international seafood exporters targeting Vietnam may need to assess their own pricing and supply chain efficiencies to compete with the established Canadian presence, particularly as the 0% import tariff on CPTPP-compliant Canadian lobsters continues to influence market dynamics.