How Much Per Kilo of Lobster in Philippines?

Lobster is considered a luxury seafood item in many parts of the world, including the Philippines. But with its rising popularity, more and more people are wondering – how much does lobster cost per kilo in the Philippines? This article provides a comprehensive overview of lobster prices per kilo in the Philippines.

Lobster has gained immense popularity as a delicacy in the Philippines over the past few years. Though not native to the Philippine waters lobsters are imported from countries like Australia Vietnam, Taiwan and even the USA to cater to the rising local demand.

The two most commonly available varieties of lobster in the Philippine market are:

• Spiny Lobsters – Also known as rock lobsters, these are found in tropical and subtropical waters. The common species are Painted spiny lobster, Ornate spiny lobster, etc.

• Clawed Lobsters – These are found in colder waters and include species like the American lobster, European lobster, etc.

Lobsters are available in the Philippines all year round as they are imported frozen. But seasonal availability affects prices to some extent.

Current Lobster Prices per Kilo in Philippines

Lobster is one of the most expensive seafood options in the Philippines today. Here are the latest lobster prices per kilo in the Philippine market:

• For painted spiny lobsters, the retail price range is ₱800 – ₱1,200 per kilo (USD 15.5 – 23.3).

• American lobsters and European lobsters cost even higher, starting from ₱1,500 per kilo (USD 29.2) for small to medium sizes.

• Jumbo sized American and European lobsters can cost ₱5,000 per kilo (USD 97.2) or even higher. Their meat yields are higher.

• The wholesale price range is ₱500 – ₱850 per kilo (USD 9.7 – 16.5).

• In upscale supermarkets like S&R, Rustan’s, etc. prices tend to be on the higher side.

• Small neighborhood wet markets offer lower prices, but the variety is limited.

So on average, lobster in the Philippines costs around ₱800 – ₱1,200 per kilo retail and ₱500 – ₱850 per kilo wholesale.

Lobster Prices in Manila

As the capital and most cosmopolitan city of the Philippines, Manila has the highest demand for lobsters. Here are the prevailing lobster prices per kilo in Manila:

• American lobsters – ₱1,800 to ₱5,000 per kilo

• Painted spiny lobsters – ₱900 to ₱1,500 per kilo

• Wholesale lobster price – ₱650 to ₱950 per kilo

• In hotels and restaurants – ₱1,200 to ₱1,800 per kilo

So Manila has some of the most expensive lobster prices in the Philippines understandably owing to the high demand.

Factors Affecting Lobster Prices in the Philippines

Lobster prices per kilo in the Philippines are dependent on several factors:

• Import costs: As they are imported, fluctuating freight charges impact total import costs.

• Exchange rates: The Philippines imports lobsters from Australia and the US, so exchange rate variations affect import prices.

• Seasonal availability: Prices tend to be higher when seasonal availability reduces.

• Size: Jumbo size lobsters are priced higher owing to higher meat yields. Smaller lobsters are more affordable.

• Processing: Live and whole frozen lobsters are costlier than lobster meat or tails.

• Location: Prices are higher in premium retail outlets and major cities.

• Events & festivities: Prices rise during Christmas, New Year, Chinese New Year when demand spikes.

So based on these factors, lobster prices in the Philippines vary from ₱500 to as high as ₱5,000 per kilo depending on variety, size, seller, location, season, etc.

Price Trends for Lobster in the Philippines

Looking at price trends over the past few years provides a good idea of where lobster prices in the Philippines are headed.

Here are a few noticeable trends:

• Overall rising prices: From 2016 to 2021, lobster prices overall have shown an upward trend driven by rising demand.

• Reduced price volatility: The spikes and drops are smoothing out with more steady supplies.

• Narrowing wholesale-retail price gap: With more organised wholesale channels, the price gap has narrowed.

• Increasing imports: To meet local demand, lobster imports into the Philippines have increased consistently.

• Substitution: At higher price points, some consumers are switching to crabs or prawns which are more affordable.

The forecast is that lobster prices in the Philippines will continue to rise in the near future based on the demand-supply situation. But increasing competition may help stabilize prices to some extent. The rising middle class will continue to drive demand.

How to Get the Best Deal on Lobsters in the Philippines?

Here are some tips to get the best price when buying lobsters in the Philippines:

• Opt for painted spiny lobsters rather than American/European lobsters if on a budget.

• Avoid buying during peak demand seasons like holidays and festivals when prices are inflated.

• Buy directly from wet markets and wholesale centers rather than retail stores to get trade prices.

• Go for smaller sizes like 300-500 gm which are more affordable.

• Buy whole frozen lobsters and get them shelled to reduce costs by 30%-40%.

• Shop around and compare prices between a few sellers before you buy.

• Buy in bulk directly from importers or wholesalers to get attractive rates, if possible.

So, while lobster is considered a luxury seafood in the Philippines, following these tips will help you get the best price possible. The typical price range is ₱800 – ₱1,200 per kilo retail but you can buy it for as low as ₱500 per kilo wholesale.