Polish import volume breaks through history, US and Canadian exporters benefit at the same time

Published 2024년 3월 29일

Tridge summary

In 2023, Canada and the United States experienced a surge in lobster exports to China, with Canada exporting 24,491 tons worth US$390 million and the US exporting 9,483 tons valued at US$179 million. This growth is attributed to the increasing demand from China's middle class, marking a positive trend amidst a general decline in Canada's polygon export industry. Despite facing challenges in the European market, where both countries have seen a decrease in demand even with tariff agreements in place, the Lobster Council of Canada remains optimistic. They anticipate a return to normalcy in lobster exports by 2024, highlighting the Chinese market's significant role in sustaining the industry's growth.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2023, Canada exported 24,491 tons of live lobsters to China, an increase of 6%, with a value of US$390 million, an increase of 12%; the United States exported 9,483 tons, an increase of 34%, with an export value of US$179 million, an increase of 16%. Two weeks ago, at the Seafood Expo North America (SENA) in Boston, USA, Geoff Irvine of the Lobster Council of Canada (LCC) told UCN: "Ten years ago we had almost no Chinese customers, and now Canada and the United States have total lobster exports of 750 million. Canadian dollar. Despite all the bad news we hear about China’s economy, China’s middle class is growing and large numbers of people are migrating to cities every month and they want things from the West, like lobster.” Last year, Canada exported 87,250 tons of polypropylene, of which 53,998 tons were live lobsters, accounting for 45% of the Chinese market. China is also the largest export market for polypropylene in the United States, accounting for 33% of U.S. exports. ...

Source: Foodmate